https://www.taxtmi.com/caselaws?id=450225 The CESTAT Bangalore allowed the appeal challenging recovery of excess CENVAT credit with interest and penalty. The tribunal held that duty paid by 100% Export Oriented Units under Notification No.23/2003 CE constitutes excise duty per Vikram Ispat precedent, making CENVAT credit admissible. The department's denial of credit on Basic Customs Duty and Education Cess components was incorrect. Since the appellant disclosed credit availing in monthly ER-1 returns, no suppression existed, making extended limitation period and penalty unsustainable. The impugned order was set aside. en-us Wed, 28 Feb 2024 00:00:00 +0530 Fri, 01 Mar 2024 05:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450225 The CESTAT Bangalore allowed the appeal challenging recovery of excess CENVAT credit with interest and penalty. The tribunal held that duty paid by 100% Export Oriented Units under Notification No.23/2003 CE constitutes excise duty per Vikram Ispat precedent, making CENVAT credit admissible. The department's denial of credit on Basic Customs Duty and Education Cess components was incorrect. Since the appellant disclosed credit availing in monthly ER-1 returns, no suppression existed, making extended limitation period and penalty unsustainable. The impugned order was set aside. Case-Laws Central Excise Wed, 28 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450225