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Themis Medicare Limited vs Valsad on 29 August, 2024 cites

M/S Grasim Industries Limited vs Cce, Indore on 17 July, 2015

7. Insofar as the demand in respect of the duty involved on finished goods and semi-finished goods destroyed in the fire, the Tribunal has found as a matter of fact that the adjudicating authority had not disputed the fact that the finished goods as well as semi-finished goods were fully destroyed in the fire inspite of the respondent having taken all precautions. The Tribunal placed reliance upon the decision of the Larger Bench of the Tribunal in the case of Grasim Industries v. C.C.E., Indore, 2007 (208) E.L.T. 336 (Tri. - L.B.), wherein it had been held that the credit availed on inputs destroyed in fire was not required to be reversed and accordingly, set aside the demand on that count.
Custom, Excise & Service Tax Tribunal Cites 3 - Cited by 26 - Full Document

Cce - Ahmedabad-Ii vs Intas Pharmaceuticals ... on 19 June, 2014

"14. After hearing the learned counsel for the parties and after going through the provisions contained in Central Excise Act as well as the concerned Rules, we find that Cenvat is a scheme under which a manufacturer is allowed to utilize the duty paid on inputs by taking the same from the duty payable on the final product, subject to certain procedures prescribed under the Rules. It is only a benefit available to the manufacturer to utilize the duty paid on the inputs for payment of duty on the final product subject to the procedure laid down in the Rules. It does not directly affect or reduce the assessable value automatically. It, however, will result in reduction in the cost of final product to the extent of the credit but will not automatically reduce the assessable value which is to be determined in accordance with the provisions of the Act. It, therefore, cannot have any effect on the assessable value, which is to be determined in accordance with the provisions of the Act. Further, the assessable value is to be determined in accordance with the provisions of the Act and the credit as provided by Rules cannot have any overriding effect on the provisions of the Act.
Gujarat High Court Cites 0 - Cited by 6 - M R Shah - Full Document

C.C.E. & S.T. Vapi vs M/S Hindalco Industries Limited on 23 April, 2018

d) The same issue was also considered by the Hon'ble Bombay High Court in the case of CCE V/S Hindalco Industries Ltd. 2011 (272) ELT 161 (Bom.) wherein it was held that prior to insertion of Sub Rule 5 (D) (C) in Rule 3 of Cenvat Credit Rules, there was no provision for reversal of the Cenvat credit on inputs contained in the finished goods which were destroyed in fire. The relevant portion of the order is reproduced below:-
Custom, Excise & Service Tax Tribunal Cites 1 - Cited by 0 - Full Document
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