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2010 (10) TMI 999 - AT - Central ExciseRefund claim - denial on the ground that the credit of specified duty can only be allowed in respect of inputs used in the final products cleared for export under Bond - Whether the deemed credit amount taken by the appellant in their Cenvat credit account register during March, 2007 i.e. after the deemed credit scheme is rescinded vide N/N. 8/2003-C.E. (N.T.), dated 1-3-2003? - Whether the deemed credit amount shall lapse after the scheme rescinded? - Held that: - The appellant is entitled to transfer the deemed credit balance into Cenvat credit account on denial of refund claim which was paid in cash. As such the impugned order is maintainable - credit available on inputs used in the manufacture of the final product is the credit of duty paid on such inputs. However the government from time to time, keeping in view the difficulties faced by the industry as regards production of documents, allow such credit on the basis of deeming provisions, as if the duty stands paid on the inputs so utilized - appeal rejected - decided against Revenue.
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