2017 (3) TMI 552

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....dent : Shri N. Satwani, A.R. ORDER Per Dr. D.M. Misra This appeal is filed against OIA No.SA/171/VAPI/2011, dt.04.11.2011, passed by Commissioner (Appeals), C.Ex. & S.Tax, Vapi. 2. Briefly stated the facts of the case are that the Appellants are engaged in the manufacture of Chemicals falling under Chapter 29 of Central Excise Tariff Act, 1985. The Appellants had availed CENVAT Credit ....

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....inputs in their balance sheet is immaterial as the CENVAT Credit only prohibits availment of depreciation as well as credit on the capital goods presribed under Rule 4(4) of CENVAT Credit Rules 2004. Further, it is the contention that even though the credit was availed in the month of October to December 2004 and ER1 was filed in the month of January 2005, however, the demand was issued on 07.4.20....

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....n the due dates and the last date for filing return being 10.01.2005, for the credit availed in Dec.2004 therefore, the demand is barred by limitation. 6. Heard both sides and perused the records. The limited issue needs to be determined is: whether the Appellants are required to reverse CENVAT Credit availed on the inputs, the value of which is  shown as Revenue expenditure in the balance....