Reverse CENVAT availed on Raw Material on trf to sister unit: SC

CA Urvashi Porwal Brief of the Case In the case of COMMISSIONER OF CENTRAL EXCISE, RAIGAD V/s M/S. ISPAT METALLICS INDUSTRIES LTD. & ORS., it was held that in case of erstwhile in terms of Rule 57AB(1C) of the Central Excise Rules, 1944 and Rule 3(4) of the Cenvat Credit Rules, 2001, it was held that  in terms of circular dated 1.7.2002 by which, where no sale is involved but only a transfer by one sister unit to another, the value shown in the invoice on the basis of which Cenvat credit was taken by the assessee would be the value for the purpose of Rule 57AB and Rule 3(4). Facts of the...