2019 (4) TMI 1561

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....pellant Shri P.R. Gupta, Authorised Representative for the respondent ORDER PER: ANIL CHOUDHARY: The issue involved in this appeal is whether the appellant is liable to pay amount under Rule 6(3A) read with Rule 2 (e) of the Cenvat Credit Rules and whether the show cause notice has been rightly issued invoking extended period of limitation. 2. The brief facts are that the appellant ....

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....he Explanation was inserted as follows:- "Explanation - for the removal of doubts, it is hereby clarified that the exempted services includes trading. This amendment was w.e.f. 1st day of April, 2011. The show cause notice dated 9.10.2013 was issued invoking extended period of limitation demanding reversal of cenvat credit of Rs. 1,60,326/- for the period 4/2008 to 3/2013 under Rule 14....

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....1, wherein trading activity was incorporated in definition of exempted services. Thus, Rule 6 of Cenvat Credit Rules, 2004 would become applicable only w.e.f. 1.4.2011. Prior to that, there were no provisions for either denial of credit or for reversal of the same, with respect to the activity of trading. 5. Further, it is contended that the appellant has maintained proper books of accounts and....

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....ding notification. 8. Further, the said explanation is in the nature of increasing tax liability of an assessee and as such, the same cannot be retrospective in nature unless specifically so provided by the competent authority. As regards the plea of extended period, I find that the elements of invocation of extended period are not available in the facts and circumstances. Accordingly, I hold t....