Central Excise - Deemed Credit - When deemed credit is allowed as per the notification, payment of duty is not mandated - Supreme Court upholds Assistant Commissioner's order .
This is a case where an Assistant Commissioner passed an order in favour of the assessee. The Commissioner (Appeals), the Tribunal and the High Court ruled against the assessee, but finally the Supreme Court upheld the Assistant Commissioner's order. We don't know who that Assistant Commissioner is but we salute him.
The issue was very simple. By a notification, deemed credit of a certain amount was allowed on certain scrap items. Other than the Assistant Commissioner, all the authorities disallowed the credit on the ground that the assessee has not paid duty. The Supreme Court observed that payment of duty was not mandated for availing this concession.
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