https://www.taxtmi.com/caselaws?id=757863 CESTAT Kolkata allowed the appeal, setting aside the denial of CENVAT credit on components, spares and accessories of capital goods and welding electrodes. The tribunal held that components and parts qualify as capital goods under Rule 2(a) of CENVAT Credit Rules, 2004, regardless of their classification chapters. Welding electrodes used in manufacturing qualified as inputs under Rule 2(k). Since the appellant maintained sufficient CENVAT credit balance, no interest was payable. Consequently, no penalty was imposable as no credit reversal or interest payment was required. en-us Tue, 27 Aug 2024 00:00:00 +0530 Tue, 03 Sep 2024 10:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757863 CESTAT Kolkata allowed the appeal, setting aside the denial of CENVAT credit on components, spares and accessories of capital goods and welding electrodes. The tribunal held that components and parts qualify as capital goods under Rule 2(a) of CENVAT Credit Rules, 2004, regardless of their classification chapters. Welding electrodes used in manufacturing qualified as inputs under Rule 2(k). Since the appellant maintained sufficient CENVAT credit balance, no interest was payable. Consequently, no penalty was imposable as no credit reversal or interest payment was required. Case-Laws Central Excise Tue, 27 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757863