https://www.taxtmi.com/caselaws?id=450771 CESTAT Mumbai allowed appellant's appeal regarding CENVAT credit on common input services used for both manufacturing and trading activities. The appellant had debited entire CENVAT credit on common input services before adjudication. Following Supreme Court precedent in Chandrapur Magnet Wires case, CESTAT held that debiting credit entries renders them as if never availed. Since no credit was effectively taken on common input services, the 5% or 6% payment requirement on exempted services value did not apply. Demand of Rs.2,44,54,675 with interest and penalty was set aside. en-us Mon, 11 Mar 2024 00:00:00 +0530 Wed, 13 Mar 2024 08:41:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450771 CESTAT Mumbai allowed appellant's appeal regarding CENVAT credit on common input services used for both manufacturing and trading activities. The appellant had debited entire CENVAT credit on common input services before adjudication. Following Supreme Court precedent in Chandrapur Magnet Wires case, CESTAT held that debiting credit entries renders them as if never availed. Since no credit was effectively taken on common input services, the 5% or 6% payment requirement on exempted services value did not apply. Demand of Rs.2,44,54,675 with interest and penalty was set aside. Case-Laws Central Excise Mon, 11 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450771