Provisions of Rule 3(5)(B) of CCR, 2004 not attracted in case of a general provision

Jaisawal Neco Industries Ltd Vs Principal Commissioner of Central Tax & Central Excise (CESTAT Delhi) The issue involved in this appeal is whether the provisions of Rule 3(5)(B) of CCR, 2004 are attracted in case of making a general provision in the books of account for slow moving/non moving inventory, without reducing the value of such inventory. In this case appellant have only created a general provision for slow/non-moving inventory and have admittedly not written of the inventory from the inventory or the asset account. In actuality, such provision have been made by appropriation in ...