Obligation of Reversing CENVAT Credit from Excise Duty Not Applicable if Goods are Supplied against International Competitive Bidding u/r 6(6) of CENVAT Credit Rules: CESTAT

Obligation - Reversing - CENVAT - Credit - Excise - Duty - Applicable - Goods - Supplied - International - Competitive - Bidding - TAXSCAN

The Chennai bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) held that the obligation of reversing CENVAT credit from excise duty is not applicable if the goods are supplied against the International Competitive Bidding under rule 6(6) of the CENVAT Credit Rules,2004.  Emerson Process Management Chennai P.Ltd, the appellant assessee was engaged…

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