TaxTMI 
TaxTMI 
2026 (6) TMI 445
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....normal period has been upheld. 2. Briefly the facts of the present case are that the appellants are engaged in the manufacturing of excisable goods falling under Chapter 72 & 73 of the Central Excise Tariff Act, 1985 and are availing the facility of CENVAT credit on inputs, input services and capital goods under CENVAT Credit Rules, 2004. During the audit, it was found that the appellants have wrongly utilized CENVAT credit of Education Cess and Secondary & Higher Education Cess amounting to Rs.20,58,966/- as available on 28.02.2015 for making payment of Central Excise Duty, which was in contravention of the Notification No.12/2015-CE (NT) dated 30.04.2015 and the provisions of Sub Rule 7(b) of Rule 3 of the CCR, 2004. On these allegatio....
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....M/s Jet Airways (India) Limited vs. Commr of Service Tax-V, Mumbai [vide Final Order No. 85896-85897/2023 dt 12.05.2023 in Appeal Nos. ST/86949, 87287/2015] and Hyderabad Bench in the case of Icomm Tele Ltd. vs. Commr of Central Tax, Puducherry [vide Final Order No. 30309/2023 dt 06.10.2023 in Appeal No. E/1335/2012]. It is pertinent to refer the findings of Mumbai Bench of the Tribunal in the case of M/s Jet Airways (India) Limited (supra), wherein it was ordered that the appeals stand abated once the Resolution Plan has been approved by NCLT and the CESTAT has become functus officio in the matters relating to this appeal. Relevant findings are reproduced herein below:- "4. We also find that the matter is no more res integra, as t....
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....e binding on the Corporate Debtor and its employees, members, creditors, including the Central Government, any State Government or any local authority, guarantors and other stakeholders. On the date of approval of resolution plan by the Adjudicating Authority, all such claims, which are not a part of resolution plan, shall stand extinguished and no person will be entitled to initiate or continue any proceedings in respect to a claim, which is not part of the resolution plan; (ii) 2019 amendment to Section 31 of the I&B Code is clarificatory and declaratory in nature and therefore will be effective from the date on which I&B Code has come into effect; (iii) Consequently all the dues including the statutory dues owed to the ....
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.... reg. I am directed to inform the Insolvency and Bankruptcy Board of India has requested that role of GST and Customs authorities in certain key issues under the Insolvency and bankruptcy Code, 2016 needs to be formulated. Further, GST and Customs Authorities have been classified as operational creditors and are required to submit their claims against corporate debtors when the Corporate insolvency and resolution process is initiated and public announcement inviting claims is made by the insolvency professional. 2. A timeline of 90 days from the insolvency commencement date is available for filing of claims. However, it has been observed that there is an inordinate delay in filing of claims by Customs and GST authorities. ....