CENEX UPDATE – 19.07.2020

CX - Law does not dictate that an assessee can avail only 50% CENVAT credit in one given year or that remaining 50% credit can be availed in following year: CESTAT

ST - Appellant is a PSU and the amount demanded as tax is admissible as CENVAT credit - although penalties are imposable u/ss 76, 77 & 78, they are waived by application of s.80: CESTAT

Cus - Adopting a methodology of first-come-first-serve has inherent flaws and anybody having access to power corridor at some level is likely to secure unfair advantage at the cost of other applicants who may not have similar access: HC