https://www.taxtmi.com/caselaws?id=751191 CESTAT Hyderabad ruled in favor of the appellant regarding CENVAT credit reversal on inputs destroyed in factory fire. The tribunal held that inputs consumed in production and forming part of work-in-progress/semi-finished goods at time of destruction need not have their CENVAT credit reversed. The court distinguished between inputs removed "as such" from factory versus inputs already incorporated into WIP goods. Since WIP goods are no longer classified as inputs, Rule 3(5) requiring credit reversal on removed inputs did not apply. The appellant was not required to reverse CENVAT credit of Rs.76,88,124/- relating to inputs forming part of destroyed WIP goods. Appeal allowed, impugned order set aside. en-us Mon, 08 Apr 2024 00:00:00 +0530 Tue, 09 Apr 2024 21:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751191 CESTAT Hyderabad ruled in favor of the appellant regarding CENVAT credit reversal on inputs destroyed in factory fire. The tribunal held that inputs consumed in production and forming part of work-in-progress/semi-finished goods at time of destruction need not have their CENVAT credit reversed. The court distinguished between inputs removed "as such" from factory versus inputs already incorporated into WIP goods. Since WIP goods are no longer classified as inputs, Rule 3(5) requiring credit reversal on removed inputs did not apply. The appellant was not required to reverse CENVAT credit of Rs.76,88,124/- relating to inputs forming part of destroyed WIP goods. Appeal allowed, impugned order set aside. Case-Laws Central Excise Mon, 08 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751191