Reversal of Cenvat Credit amounts to not taking credit. A Gracious Board bows to Apex Court – Public Circular issued
Please recall yesterday's DDT on the subject, wherein it was mentioned,
Incidentally, as this column has been repeatedly mentioning, Board is terribly shy of making public its good deeds. This is an amendment to a circular and should have been properly issued as a circular. But this is contained in a Private letter from the Board to the Chief Commissioners.
Or is it that the board wants this information to be known only to the departmental officers and not to the industry, for whose benefit this clarification has been given.
We are informed by an officer that the Circular had been issued.
DDT is grateful that the Board has issued a public circular and made it public and we regret the lapse.
CBEC Circular No. 858/16/2007-CX dated 8th Nov 2007.