TaxTMI 
TaxTMI 
2022 (2) TMI 895
X X X X Extracts X X X X
X X X X Extracts X X X X
....ion parts etc. On the basis of a complaint regarding wrong availment of Cenvat credit by the appellant, an enquiry initiated against the appellant by the Preventative Wing of the CGST Commissionerate, Jalandhar. During the investigation, it was found that the appellant was engaged in the manufacture of pipe fittings and is availing SSI exemption as per Notification NO.08/2003-CE dated 01.03.2003. The appellant was asked to provide documents for the last five years in respect of Cenvat credit availed by them along with copies of ER- 3 returns, balance sheets, calculation of Cenvat credit taken at the time of exceeding Rs. 150 lacs clearance and also calculation of Cenvat credit debited at the time of close of financial year in respect of clo....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ained in final products lying in stock on the date while exercising the option of availing SSI exemption. However, the appellant did not provide details about closing stock on the relevant date. Therefore, the appellant neither fulfilled the conditions for making him eligible to avail benefit of exemption notification nor did he provide details of stock at relevant dates to enable ascertainment of amount which he was liable to pay as per Rule 11 (2) in case he had been eligible for the exemption. Therefore, a show cause notice was issued to the appellant to deny the benefit of Notification No. 08/2003-CE dated 01.03.2003. The matter was adjudicated, the benefit of exemption of Notification No. 08/2003-CE dated 01.03.2003 was denied. Consequ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....On the other hand, ld.AR opposed the contention of the ld. Counsel and submits that he appellant did not provide their Cenvat credit account lying in their account but provided on closing of financial year and the appellant has taken credit before crossing the exemption limit of Rs. 150 lacs during the year. He also produce the chart to establish his case that the appellant has reversed the credit involved in the closing stock at the time of closing of each financial year, therefore, they are not entitled to the benefit of Notification No. 08/2003-CE dated 01.03.2003. 5. Heard the parties and considered the submissions. 6. On careful consideration of the submissions made by both the sides before us, we find that the issue is whether the a....
X X X X Extracts X X X X
X X X X Extracts X X X X
....pellant has reversed less credit. Moreover, from the balance sheets and ER-3 returns, it is very much clear that at the end of financial year, the credit lying in cenvat account is having a nil balance. Same is evident from the ER-3 returns for the next financial year showing opening balance of Cenvat credit at nil. In that circumstance, the allegations made by the ld.AR during the course of argument, are not acceptable at this stage. The said calculation arrived by the ld.AR during arguments are based on record provided by the appellant during investigation but the show cause notice has not discussed any such discrepancy. Therefore, the argument of the ld.AR is only presumptive which is not required to be considered. In that circumstance, ....