CESTAT sets aside Penalty imposed on Duty Liability of Input Tax Credit availed in respect of Electricity Cogeneration plant

The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Chennai set aside penalty imposed on duty liability of input tax credit availed in respect of Electricity Cogeneration plant. The appellant, M/s.Sakthi Sugars Ltd who is engaged in manufacture of Sugar, Molasses and Industrial Alcohol is registered with the Department for manufacture of the final products….

Source Taxscan