No Provision to Reverse Capital Goods Cenvat Credit for Damage, Wear & Tear

East India Holding Pvt. Ltd. Vs Commissioner of CGST & Central Excise (CESTAT Kolkata) Introduction: In a recent ruling by the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) Kolkata, the issue of reversing CENVAT credit on capital goods due to wear and tear was addressed. The case of M/s East India Holding Pvt. Ltd. vs. Commissioner of CGST & Central Excise revolved around the alleged irregular availment of CENVAT credit by the appellant concerning old and used Cast Iron (C.I.) Moulds, which were considered capital goods. The allegation was that these Moulds were clandes...