Wrongful Reversal of Cenvat Credit on Re-exported Goods: CESTAT allows Refund or Re-credit Option [Read Order]

The Ahmedabad Bench of Customs,Excise and Service Tax Appellate Tribunal(CESTAT) allowed the assessee the option of a refund or re-credit for wrongful reversal of Cenvat Credit on re-exported goods Transpek Industry Ltd,appellant-assessee, imported goods that were later re-exported with the department’s permission. Their accountant mistakenly reversed the Cenvat Credit of CVD and SAD paid at…