{"id":158011,"date":"2007-02-15T00:00:00","date_gmt":"2007-02-14T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/indus-theco-pvt-ltd-vs-commissioner-of-c-ex-on-15-february-2007"},"modified":"2017-02-25T03:35:58","modified_gmt":"2017-02-24T22:05:58","slug":"indus-theco-pvt-ltd-vs-commissioner-of-c-ex-on-15-february-2007","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/indus-theco-pvt-ltd-vs-commissioner-of-c-ex-on-15-february-2007","title":{"rendered":"Indus Theco Pvt. Ltd. vs Commissioner Of C. Ex. on 15 February, 2007"},"content":{"rendered":"<div class=\"docsource_main\">Customs, Excise and Gold Tribunal &#8211; Mumbai<\/div>\n<div class=\"doc_title\">Indus Theco Pvt. Ltd. vs Commissioner Of C. Ex. on 15 February, 2007<\/div>\n<div class=\"doc_bench\">Bench: J Balasundaram, Vice-<\/div>\n<\/p>\n<pre><\/pre>\n<p>ORDER<\/p>\n<p>Jyoti Balasundaram, Vice-President<\/p>\n<p>1. In this case Cenvat Credit of Rs. 9,46,318\/- taken on capital goods which was subsequently exported as such has been disallowed and ordered to be paid back as per the provisions of Rule 3(4) of the Cenvat Credit Rules 2002 which provides for payment of an amount equal to credit availed in respect of inputs or capital goods which are removed as such from the factory and penalty of equal amount has been imposed.\n<\/p>\n<p>2. I have heard both sides and find force in the submission of the appellants that they were not required to pay pack the credit availed in the light of the CBEC circular dated 31-12-96 issued in the context of the erstwhile Central Excise Rules, 1944 for the reason that even in the Rules as they stood, during the prior period (the period in dispute in the present case is subsequent to the introduction of Cenvat Credit Rules, 2002), there was no provision for paying back the amount equal to credit availed in respect of inputs cleared as such. Further, even if the appellants had exported the capital goods on payment of an amount equal to the credit availed thereon, such amount would have been available to them by way of rebate and therefore, the entire exercise is revenue neutral.\n<\/p>\n<p>3. In the light of the above, I set aside the impugned order and allow the appeal.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Customs, Excise and Gold Tribunal &#8211; Mumbai Indus Theco Pvt. Ltd. vs Commissioner Of C. Ex. on 15 February, 2007 Bench: J Balasundaram, Vice- ORDER Jyoti Balasundaram, Vice-President 1. In this case Cenvat Credit of Rs. 9,46,318\/- taken on capital goods which was subsequently exported as such has been disallowed and ordered to be paid [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-158011","post","type-post","status-publish","format-standard","hentry","category-judgements"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Indus Theco Pvt. Ltd. vs Commissioner Of C. 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