Friday, March 27, 2015

Service Tax changes effective from 01.04.2015


Service Tax changes Effective From April 1, 2015

EFFECTIVE FROM APRIL 1, 2015

EFFECTIVE FROM APRIL 1, 2015
Exemption widened on Service provided by transport of export goods by road from the place of removal to a land customs station (LCS) vide Notification No. 4/2015-ST dated 1-03-2015 (Effective From 1-04-2015):
Goods transport agency service provided for transport of export goods by road from the place of removal to an inland container depot, a container freight station, a port or airport is exempt from Service Tax vide notification No. 31/2012-ST dated 20-6-2012. Scope of this exemption is being widened to exempt such services when provided for transport of export goods by road from the place of removal to a land customs station (LCS).
Service Tax Rules, 1994 amended vide Notification No. 5/2015-ST dated 01-03-2015
Under Rule 2: New Entries under Full Reverse Charge
·         Mutual Fund/ Asset Management Company needs to pay Service tax under Reverse Charge on services received  from mutual fund agent/ distributor - 2(1)(d)(i)(EEA) inserted;
·         Lottery Distributor or Selling Agent needs to pay Service tax under Reverse Charge on services received from selling or marketing agents of lottery tickets - Rule 2(1)(d)(i)(EEB) inserted
Changes in Mega Exemption Notification No. 25/2012-ST dated 20-06-2012 vide Notification No. 6/2015-ST dated 01-03-2015
Exemptions Withdrawn:
Entry 12: Services provided to the Government, a Local authority or a Governmental authority by way of construction, erection, commissioning, installation, completion, fitting out, repair, maintenance, renovation, or alteration of-
·         a civil structure or any other original works meant predominantly for use other than for commerce, industry, or any other business or profession;
·         a structure meant predominantly for use as (i) an educational, (ii) a clinical, or (iii) an art or cultural establishment;
·         a residential complex predominantly meant for self-use or the use of their employees or other persons specified in the Explanation 1 to clause 44 of section 65B of the said Act.
Entry 14: Services by way of construction, erection, commissioning, or installation of original works pertaining to an airport or port.
Entry 29: Services by following persons in respective capacities:
·         Mutual fund agent to a mutual fund or asset management company;
·         Distributor to a mutual fund or asset management company;
·         Selling or marketing agent of lottery tickets to a distributer or a selling agent.
Service tax on the above stated services shall be levied under Reverse Charge Mechanism on Mutual fund or Asset Management Company/ Lottery Distributor or Selling Agent w.e.f 01-04-2015
Entry 32: Services by way of making telephone calls from:
·         Departmentally run public telephone;
·         Guaranteed public telephone operating only local calls;
·         Free telephone at airport and hospital where no bill is issued
Exemptions Amended:
Entry 16: Exemption to services provided by a performing artist in folk or classical art form of (i) music, or (ii) dance, or (iii) theatre, has been restricted only to such cases where amount charged is not exceeding Rs. 1,00,000/- for a performance (except brand ambassador)
Entry 20: Exemption under Entry 20(i) substituted, transportation of food stuffs by rail or vessels from one place in India to another will be limited to milk, salt and food grains including flours, pulses and rice. [Earlier Entry 20(i): foodstuff including flours, tea, coffee, jaggery, sugar, milk products, salt and edible oil, excluding alcoholic beverages].
Entry 21: Exemption under Entry 21(d) substituted, for Services provided by a goods transport agency, by way of transport in a goods carriage of, milk, salt and food grain including flours, pulses and rice. [Earlier Entry 21(d): foodstuff including flours, tea, coffee, jaggery, sugar, milk products, salt and edible oil, excluding alcoholic beverages]
New Exemptions:
Entry 2: All ambulance services provided to patients are exempted. Hitherto, any service provided by way of transportation of a patient to and from a clinical establishment by a clinical establishment was exempt from Service tax.
Entry 26A: Life insurance service provided by way of Varishtha Pension Bima Yojna.
Entry 43: Services by operator of Common Effluent Treatment Plant by way of treatment of effluent.
Entry 44: Services by way of pre-conditioning, pre-cooling, ripening, waxing, retail packing, labelling of fruits and vegetables which do not change or alter the essential characteristics of the said fruits or vegetables.
Entry 45: Services by way of admission to a museum, national park, wildlife sanctuary, tiger reserve or zoo.
Entry 46: Services provided by way of exhibition of movie by an exhibitor to the distributor or an association of persons consisting of the exhibitor as one of its members.
Certain new definitions also provided for following terms– ‘National park’, ‘Tiger reserve’, ‘Trade union’, Wildlife sanctuary’, ‘Zoo’.
Changes in Reverse Charge Mechanism vide Notification No. 7/2015-ST dated 01-03-2015 amending Notification No. 30/2012-ST dated 20-06-2012

New Entries under Full Reverse Charge
a)     Mutual Fund/ Asset Management Company needs to pay Service tax under Reverse Charge on services received  from mutual fund agent/ distributor;
b)     Lottery Distributor or Selling Agent needs to pay Service tax under Reverse Charge on services received from selling or marketing agents of lottery tickets;

From Partial Reverse Charge to Full Reverse Charge
a)     Manpower Supply and Security services provided by an individual, HUF, partnership firm or association of persons to a business entity registered as body corporate have been brought under Full Reverse Charge as against Partial Reverse Charge mechanism applicable at present.(read what action required in transition period)

Changes In Abatement Notification No. 26/2012-ST dated 20-06-2012 vide Notification No. 8/2015-ST dated 01-03-2015

·         Uniform Abatement for transport by rail, road and vessel: A uniform abatement of 70% has been prescribed for transport by rail, road and vessel to bring parity in these sectors. Service tax shall be payable on 30% of the value of such service subject to a uniform condition of non-availment of Cenvat credit on Inputs, Capital goods and Input services.
Presently, Service tax is payable on 30% (in case of rail transport)/ 25% (in case of road transport)/ 40% (in case of transport by vessels). Further, there is no condition for availment of Cenvat credit on Inputs, Capital goods and Input services in case of transport by rail, which is now withdrawn.

·         Reduction in abatement for classes other than economy class: The abatement for classes other than economy class (i.e. business/ first class) has been reduced from 60% to 40%. Accordingly, Service tax would be payable on 60% of the value of such higher classes.
At present, Service tax is payable on 40% of the value of transport of passenger by air for economy as well as higher classes (i.e. business/ first class).

·         Abatement in relation to Chit fund withdrawn:  Abatement for the services provided in relation to Chit fund stands withdrawn. Consequently, Service tax shall be paid by on full consideration received by the foremen of Chit fund.


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SERVICE TAX CHANGES EFFECTIVE FROM 01.03.2015


Service Tax changes Effective From March 1, 2015 


EFFECTIVE FROM MARCH 1, 2015
Notification No. 42/2012-ST dated 29-06-2012 rescinded vide Notification No. 3/2015-ST dated 1-03-2015.
The exemption vide Notification No. 42/2012-ST dated 29-6-2012, to the service provided by a commission agent located outside India to an exporter located in India, become redundant in view of the amendment made in the previous budget, in the definition of “intermediary” in the Place of Provision of Services Rules, 2012 to include intermediary of goods in its scope at par with Intermediary for services.
Service Tax Rules, 1994 amended vide Notification No. 5/2015-ST dated 01-03-2015
Under Rule 2: Aggregator Model taxable under Full Reverse Charge Mechanism
·         Definition of the terms ‘aggregator’and ‘brand name or trade name’ has been specifically inserted;
·         Aggregator means a person, who owns and manages a web based software application, and by means of the application and a communication device, enables a potential customer to connect with persons providing service of a particular kind under the brand name or trade name of the Aggregator.

As is evident from the nature of transactions there are 3 parties involved under an Aggregator Model:
- The Aggregator;
- Service Provider using the brand name or trade name of Aggregator; and
- Customer
·         Service received by Aggregator is brought under Reverse Charge Mechanism.

Under Rule 4: New Registration Process
·         Rule 4(9) inserted to provide that the CBEC shall, by way of an order, specify the conditions, safeguards and procedure for registration in Service tax.
In this regard Order No. 1/15-ST dated 28-02-2015, effective from 1-03-2015 has been issued, prescribing documentation, time limits and procedure for registration for single premises. Registration for single premises: within 2 days of filing of application.

New Rule 4C has been inserted after Rule 4B of the Service Tax Rules – Corresponding changes made in Rule 5 thereof:
·         Provision for issuing digitally signed invoices, bill or challan has been added along with the option of maintaining of records in electronic form and their authentication by means of digital signatures.
·         It is further provided that the conditions and procedure in this regard shall be specified by the CBEC.


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Thursday, March 26, 2015

HIKE IN RATE OF SERVICE TAX – OPEN ISSUES


The Union Budget, 2015 has proposed an increase in the rate of Service tax from 12.36% to flat 14% with abolishment of Education cess and Secondary & Higher Secondary Education cess. Further pursuing with Mr. Narendra Modi’s Dream of Swachh Bharat, a new Chapter VI has been inserted in the Finance Bill, 2015 that contains a new levy of cess called the ‘Swachh Bharat Cess’ (“SB Cess”) which may be levied on all or any of the taxable services at the rate of 2% of the value of such services. With SB Cess, Service tax rate may increase from present 12.36% to 16%.

Since the change in rate of Service tax will take place from the date of enactment of the Finance Bill, 2015, issues may build up in respect of the ongoing transactions for which certain advance payment is received prior to enactment of the Finance Bill, 2015 but the completion of provision of service may take place post facto thereof.

IMPACT OF PARTIAL REVERSE CHARGE TO FULL REVERSE CHARGE ON MANPOWER SUPPLY AND SECURITY SERVICES IN TRANSITION PERIOD


Notification No. 30/2012-ST dated 20-06-2012 has been amended vide Notification No. 7/2015-ST dated 01-03-2015, there by shifting the Supply of Manpower and Security services from Partial Reverse Charge to Full Reverse Charge. The stated change will be effective from 01-04-2015.

At present, Service tax liability in respect of Manpower supply and Security services are distributed as follows:

S. No.
Description of Service
Percentage of Service tax payable by the person providing service
Percentage of Service tax payable by the person receiving the service
8
In respect of  services  provided or agreed to be provided  by way of supply of manpower for any purpose or security services
25%
75%


However, effective from 01-04-2015, 25% of the Service tax which was earlier liable to paid by service provider will be shifted in the hands of service recipient, thereby increasing the effective Service tax liability to be paid by service recipient from 75% to 100%.

Transactions for Manpower supply and Security services entered on or after01-04-2015 would not pose any problem and manifestly the service receiver would be liable to discharge 100% Service tax under Reverse Charge. But on scrutinizing the stated change in the light of provisions of the Point of Taxation Rules, 2011 (“the POT Rules”), there are chances of turmoil being faced by the service receiver in respect of transactions made in the transitional period. It is likely that the Department may dispute the tax rate at which the service recipient is required to discharge Service tax i.e. at 75%/ 100% for the services provided before 01-04-2015 and invoices/ payments made on or after 01-04-2015.

Before taking deeper dive into the area of turmoil which may crop up pursuant to stated amendment, it is apposite here to have an overview of the Point of taxation as governed under POT Rules. As we all are aware that earlier Service tax was payable on receipt of payment in respect of taxable services provided. But with the introduction of the POT Rules, now Service tax payment is made on accrual basis in terms of the provisions contained under the POT Rules. The general Rule 3 of the POT Rules stipulates that Point of taxation shall be the earlier one among raising of invoice or date of making the payment. Further, if the invoice is not raised within 30 days (45 days) from the date of completion of provision of service, Point of taxation shall be the date of completion of provision of service.

However, Point of taxation for Reverse Charge situation (full/ partial) is governed by Rule 7 of the POT Rules which stipulates the date of making payment as the Point of taxation. Further, in case the payment of the aforesaid invoice has not been made within a period of 3 months from date of invoice, then the provisions of Rule 3 of the POT Rules will supersede Rule 7 thereof.

Key Concerns:

In cases where the provisions of services are completed on or before to 31-03-2015 but the payment for the same is made on or after 01-04-2015, disputes can arise as to who is required to discharge 25% Service tax liability:

Invoice is issued on or before 31-03-2015 but payment is made on or after 01-04-2015


In such case, service provider is liable to pay 25% in terms of Rule 3 of the POT Rules. However, since payment is made on or after 01-04-2015, the Department may invoke Rule 7 of the POT Rules and allege that the service receiver is liable to pay 100% in view of the amended provisions as the date of payment is the Point of taxation.

Invoice is issued on or after 01-04-2015 and payment is also made on or after 01-04-2015


Here following two situations may arise:

a) Invoice is raised within 30 days of date of completion of service – Clearly, service receiver will have to pay 100% Service tax;

b) Invoice is not raised within 30 days of date of completion of service – Here again, service provider is liable to pay 25% in terms of Rule 3 of the POT Rules. However, since payment is made on or after 01-04-2015, the Department may invoke Rule 7 of the POT Rules and allege that the service receiver is liable to pay 100% in view of the amended provisions as the date of payment is Point of taxation.


Invoice is issued on or after 01-04-2015 but payment is made on or before 31-03-2015


Since, payment is made on or before 31-03-2015, liability of service receiver would be to deposit Service tax at 75% in terms of Rule 7 of the POT Rules. However, the Department might raise an issue that since the invoice is raised on or after 01-04-2015, discharge of Service tax should be governed under the new provisions i.e. 100% by the service recipient only.


Conclusion:Therefore this issue needs to be handled appropriately and it is expected that the CBEC should clarify this issue at the earliest to avoid any unnecessary litigation.

A2Z TAXCORP LLP
Tax and Law Practitioners
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Wednesday, March 25, 2015

Foreign Remittance: TDS u/s 195: Case Law Analysis 2015



Some of the important case laws published during 2015 pertaining to TDS u/s 195 and/or taxability of foreign companies/non-resident entities in respect of source of income in India. Discussion and analysis (given in italics) pertain to relevance of judgement in future proceedings, subsequent developments, other relevant case laws on the same aspect, judicial decisions which are no longer relevant.

1. Interest by Indian branch to foreign Head office-TDS u/s 195- (Antwerp Diamond Bank NV vs. ADIT [2015] 152 ITD 446 (Mumbai - Trib.))

Interest was paid by assessee Indian branch of a Belgian bank to its head Office on subordinate debts and term borrowing. HELD, in view of domestic law as well as treaty same would not be chargeable to tax in India and thus, TDS provision of section 195 would not be attracted and, hence, question of disallowance under section 40(a)(i) did not arise.



Reduction of Administrative Charges of EPF from 1.10% to 0.85 % 01.01.2015


Recently The Ministry of Labour and employment government of India has issued notification to revise the rate of administrative charges under the EPFS. The changes are effective from 01.01.2015.

Key Amendments in the Notification.

Under Employee's Provident Fund Scheme,1952

  • The administrative charges paid by the employer on a monthly pay (as defined under EPF Act) has been reduced from 1.10% per cent to 0.85 per cent of the monthly pay of the employee.
  • Every establishment covered under the EPF Act has to pay a minimum administrative changes of Rs 500 per month .Earlier minimum amount was  Rs 5 per Worker.
  • Further for non functional establishments covered under the EPF ACt ,having no contributory member ,the employer has to pay minimum administrative charges of Rs 75 per month.

‘Fair dealing’ (Exceptions) of copyrighted works


Simply stated, a copyright is a statutory protection granted to an author who has created a work, or to an owner thereof, to protect unauthorized copying of the work, so that the efforts and resources of the author / owner in creating / acquiring the work are not misappropriated by others. There is no right to copy such work! The general principle therefore, is that any usage or exploitation of a copyrighted work by a third party should necessarily have the prior permission, authorization or license by the author/owner of such work, but for which, such usage or exploitation shall constitute infringement. 

As an exception to this general rule, copyright laws provide for fair dealing. Fair dealing is a legal doctrine which allows limited use of copyrighted work without the permission of the owner. 

Why such exception? 

Saturday, March 21, 2015

"Moving Deductee rows" from Unmatched Challans new online correction at TRACES


This is to inform you that Centralized Processing Cell (TDS) has initiated a special drive for closure of Short Payment Defaults in quarterly TDS Statements due to Unmatched Challans and your active participation is crucial in ensuring successful outcomes.

For closure of Short Payment Defaults arising due to Unmatched Challans quoted in TDS Statements, CPC(TDS) has further enhanced the Online Correction facility at TRACES, providing you with the feature of "Move Deductees" from Unmatched Challans to any other Unconsumed OLTAS Challan.
Please note that the above assumes further significance towards ensuring non-intrusive TDS Compliance, since, Short Payment Defaults ought to be closed at the time of submitting requests to download Consolidated Files or TDS Certificates from the web portal TRACES.

To facilitate closure of Short Payments due to Unmatched Challans, CPC(TDS) has further improved the intelligence, simplicity and convenience of Online Correction feature, as follows:
New Feature to Move Deductees added to Online Correction facility:

CPC (TDS) has introduced Move Deductees facility in Online Corrections for closure of Short Payment defaults in your quarterly TDS Statements. With use of this feature, a portion of the Deductee Rows can now be moved to any other Unconsumed OLTAS challan with adequate balance. The facility can be used in the following situation:

Issue:
  1. The challan(s) remain unmatched due to data entry errors in the TDS Statement(s).
  2. Multiple OLTAS challans may have been reported in the TDS statement incorrectly, with information pertaining to only one challan, and mapped with the referenced Deductee rows.
  3. The incorrect Challan information furnished above is causing Short Payment Defaults in the TDS Statement due to Unmatched Challans.

For instance, if there are two OLTAS challans reported in the TDS Statement an if: 

  • Total TDS in Deductee Rows, mapped to Unmatched Challan(s): Rs. 1,10,000
  • OLTAS Challan CIN1: Rs. 1,00,000
  • OLTAS Challan CIN2: Rs. 10,000
  • Challan reporting in TDS Statement: Instead of reporting the above challans separately, incorrectly only CIN1 tagged in TDS Statement with TDS amount of Rs. 1,10,000
The above error causes Short Payment Default in the TDS Statement

Solution:

  • In above situation, CIN 2 should first be added to the relevant TDS Statement using Online Correction facility
  • Deductee Rows with a total TDS of Rs. 10,000 can now be moved to CIN 2, which has incorrectly not been reported in the TDS Statement
  • Now CIN 1 (Rs. 1,10,000), as mentioned in the TDS Statement, can be tagged to the Unconsumed OLTAS Challan CIN1 (Rs. 1,00,000).
Action to be taken for Moving Deductee Rows::
  • Please logon to the website TRACES and Online Correction facility of TRACES needs to be used for closure of the Short Payment default, which is available even without digital signature.
  • Please select 'Challan Correction' in 'Type of Correction' drop-down menu
  • Navigate to Unmatched Challan and tag unconsumed challans, if available on TRACES system
  • Select a row and click on Move deductee row - List of deductees attached to the challan are displayed
  • Select deductee rows to move to a different challan- List of challans with balance greater than total tax deposited of the selected deductee rows are displayed
  • Select a challan and click on move deductee row - All selected deductee rows are moved to a new challan.

You are encouraged to refer to the e-tutorials for detailed guidance in this regard. You are requested to take corrective actions at the earliest for closure of Short Payment Defaults due to Unmatched Challans.

Goods and Services Tax (GST) - Need and Necessity - CA Bimal Jain


Goods and Services Tax – Need and Necessity    (Part - 1)


Overview of Dual GST Model   (Part – 2)


Highlights of 122nd Constitutional Amendment Bill  (Part – 3) 

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Tuesday, March 17, 2015

Mandatory Documents for Import Export of Goods wef 01.04.2015


Vide N/N 114, dated 12th Mar’15, DGFT has prescribed following documents(only three in number) which shall be mandatory for the import/export of goods:

Ø  For export:
o   Bill of Lading/Airway Bill ;
o   Commercial Invoice cum Packing List (Separate Commercial Invoice and Packing List would also be accepted);
o   Shipping Bill/Bill of Export

Ø  For imports:
o   Bill of Lading/Airway Bill
o   Commercial Invoice cum Packing List (Separate Commercial Invoice and Packing List would also be accepted);
o   Bill of Entry

The aforesaid notification shall be applicable w.e.f. 1st Apr’15 & the same has been given hereunder for ease of reference.

It is a welcome move made by the govt. in order to attain the objective of 'ease of business'

Sumit Grover
Chartered Accountant
+91-9910946323




To be published in the Gazette of India Extraordinary Part II 
Section 3, Sub Section (II) 
Government of India 
Ministry of Commerce and Industry 
Directorate General of Foreign Trade 
Udyog Bhavan 
Notification No. 114 (RE-2013)/2009-2014 
New Delhi, the 12 th  March, 2015 

Subject: Specifying documents required for Export and Import 

In exercise of the power conferred by Section 5 of the Foreign Trade (Development and  Regulation) Act, 1992 read with Para 2.1 of the Foreign Trade Policy, 2009-2014, the Central  Government hereby inserts a new Para 2.53 of Foreign Trade Policy, 2009-14: 

2. Para2.53: The following mandatory documents are prescribed for exports and imports of goods from/into India: 

(a) Mandatory documents required for export of goods from India: 
  • 1. Bill of Lading/Airway Bill 
  • 2. Commercial Invoice cum Packing List* 
  • 3. Shipping Bill/Bill of Export 

(b) Mandatory documents required for import of goods into India 
  • 1. Bill of Lading/Airway Bill 
  • 2. Commercial Invoice cum Packing List* 
  • 3. Bill of Entry 

[Note: *(i) As per CBEC Circular No. 01/15-Customs dated 12/01/2015.  (ii) Separate Commercial Invoice and Packing List would also be accepted.] 

(c) For export or import of specific goods or category of goods, which are subject to any restrictions/policy conditions or require NOC or product specific compliances under any  statute, the regulatory authority concerned may notify additional documents for purposes of  export or import. 

(d) In specific cases of export or import, the regulatory authority concerned may  electronically or in writing seek additional documents or information, as deemed necessary to ensure legal compliance. 

(e). This Notification shall come into effect from 1st April, 2015. 

3. Effect of this Notification: Only three documents each {as in para 2.(a) & (b above} would be  mandatory for exports and imports. 

(Pravir Kumar) 
Director General of Foreign Trade 
E-mail: dgft@nic.in
[Issued from (01/93/180/23/AM-15/PC-2(B)]

Monday, March 9, 2015

Subsequent reversal of Cenvat credit initially availed but not utilized, tantamount to non-availment of Cenvat credit


Subsequent reversal of Cenvat credit initially availed but not utilized, tantamount to non-availment of Cenvat credit
We are sharing with you an important judgment of Hon’ble CESTAT, New Delhi, in the case of JCT Limited Vs. CCE, Jallandhar and Ludhiana and vice-versa [2015 (2) TMI 600 - CESTAT NEW DELHI] on the following issue:
Issue:
Whethersubsequent reversal of Cenvat credit initially availed but not utilized, tantamount to non-availment of Cenvat credit?
Facts & background:
JCT Limited (“the Assessee”), in their composite mill, manufactured cotton yarn from cotton and used the same within the factory for weaving of fabrics. In respect of captive clearances of cotton yarn, the Assessee was availing full duty exemption under Notification No. 30/04-CE dated July 9, 2004 (“the Exemption Notification”). The goods covered by the Exemption Notification are fully exempt from Excise duty, if no Cenvat credit in respect of Inputs has been taken. In the instant case, the Assessee took Cenvat credit in respect of packing material during November, 2005 and December 2005 of Rs. 1,622/- and during January to March 2006 of Rs. 2,753/-. However, subsequently on being pointed out by the Department, the Assessee reversed the said Cenvat credit. Further, there was no dispute that aforesaid Cenvat Credit of Rs. 4375/- was utilized by the Assessee for payment of duty on any of their final product.
But, the Department contended that the Assessee is not eligible for availing the benefit of the Exemption Notification even if the availed Cenvat credit is subsequently reversed. Therefore, the Adjudicating Authority confirmed the demand along with interest and penalty, by denying the exemption under the Exemption Notification and also allowed the cum duty benefit i.e., treating the sale price of the yarn as including the Excise duty. Thereafter, the Order of the Adjudicating Authority was upheld by the Ld. Commissioner (Appeals). Being aggrieved both the Assessee and the Department preferred an appeal before the Hon’ble CESTAT, Delhi in respect of duty demanded and allowing of the cum duty benefit respectively.
Held:
The Hon’ble CESTAT, Delhi relying upon the judgment of Hon’ble Allahabad High Court in the case Hello Minerals Water (P) Ltd. Vs. Union of India [(2004 (7) TMI 98]which was based on the Hon’ble Apex Court judgment in the case of Chandrapur Magnet Wire (P) Ltd. Vs. CC, Nagpur [1996 (81) E.L.T. 3 (S.C.)], held that since the Cenvat credit initially taken was reversed without being utilised by the Assessee, it is to be treated as if the
Assessee has not taken the Cenvat credit and hence, would be eligible for the exemption benefit under the Exemption Notification.
It was further held by the Hon’ble Tribunal that since the duty demand itself has been set aside, the Revenue’s appeal would not survive and is accordingly dismissed.
Hope the information will assist you in your Professional endeavors. In case of any query/ information, please do not hesitate to write back to us.
Thanks & Best Regards,                
Bimal Jain

FCA, FCS, LLB, B.Com (Hons)