2015 (10) TMI 1220

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....is directed against Order-in-Appeal NO. AGS(32)11/2010 dated 15.02.2010. 2. Heard both sides and perused the records. 3. On perusal of records, I find that the issue is regarding refund on an amount which was not payable. Appellant has purchased forklift and availed Cenvat Credit amounting to Rs. 1,09,491/-; the same was sold on discharge of central excise duty of Rs. 39,000/- after six years. D....

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.... the case of Raghav Alloys Ltd. -2011(268) ELT 161, in paragraph 8 while dealing on the same point held under: We have heard arguments of both the Ld. Counsel. The Tribunal has rightly noted that unlike inputs, which get consumed 100% with the same are taken up for use in relation to manufacture of finished goods, capital goods are used over a period of time. The capital goods loose their identit....

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....ken are removed after being used, the manufacturer shall pay the amount equal to Cenvat Credit taken on the said capital goods reduced by 2.5% for each quarter of year or part thereof from the date of taking the Cenvat Credit. The Board has also in the Circular dated 1-7-2002 clarified that in the case of clearance of goods after being put into use, the value shall be determined after allowing the....