2016 (3) TMI 855

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....) ORDER This appeal is directed against the Order-in-Appeal No. AV(195)187/2014 dated 08/09/2014 passed by the Commissioner of Central Excise & Customs (Appeals), wherein Ld. Commissioner upholding the Order-in-Original No. 04/ST/ADC/2014 dt. 23.4.2014 rejected the appeal filed by the appellant. 2. The fact of the case is that the appellant is a Co-operative Bank providing services of "Banking ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....als), which was rejected, therefore the appellant is before me. 3. At the outset, Shri Nimesh Mehta, Ld. Counsel for the appellant submits that under Rule 6(3) options are available for the assessee either to reverse the proportionate credit attributed to the exempted services in terms of Rule 6(3)(ii) or 6%/8% of the value of the exempted services in terms of Rule 6(3) (i) of the Cenvat Credit R....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ring that period the option for the proportionate reversal of Cenvat Credit was not available, which comes into effect form 1.4.2008. Therefore, the whole basis of the confirmation of demand is not correct. In support of his arguments he placed reliance on the following judgments: (i) M/s. Vidyanath Urban Co-operative Bank Ltd. vs. Commissioner of Central Excise, Aurangabad, Order No. A/1218/14/S....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....y both the sides. I find that the appellant reversed the entire credit on the common input service along with interest following the option available under Rule 6(3)(ii) of the Cenvat Credit Rules. As per Sub-Rule (3A) of Rule 6(3), the Cenvat Credit required to be reversed is as per the formula prescribed, however in the present case, the appellant have reversed the entire credit availed on commo....