https://www.taxtmi.com/caselaws?id=431787 The tribunal upheld the rejection of the plea for monetization of accumulated CENVAT credit upon closure of the unit, emphasizing the legislative intent of the CENVAT credit scheme to ensure the duty or tax burden falls on the ultimate consumer. The restoration of credit in closed units did not entitle the appellant to cash refund, and the inability to utilize the restored credit did not warrant monetization. The tribunal dismissed the appeal, finding no merit in the appellant's arguments for monetization, thereby affirming that the legislative purpose was to burden the ultimate consumer with the duty or tax liability. en-us Thu, 15 Dec 2022 00:00:00 +0530 Thu, 22 Dec 2022 08:42:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431787 The tribunal upheld the rejection of the plea for monetization of accumulated CENVAT credit upon closure of the unit, emphasizing the legislative intent of the CENVAT credit scheme to ensure the duty or tax burden falls on the ultimate consumer. The restoration of credit in closed units did not entitle the appellant to cash refund, and the inability to utilize the restored credit did not warrant monetization. The tribunal dismissed the appeal, finding no merit in the appellant's arguments for monetization, thereby affirming that the legislative purpose was to burden the ultimate consumer with the duty or tax liability. Case-Laws Central Excise Thu, 15 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431787