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2011 (10) TMI 38 - HC - Central ExciseArea Based Exemption - The assessee opted to avail nil rate of duty with effect from 8th April, 2004 under the said Notification No. 50/2003. At that stage, the assessee had already availed CENVAT credit under the Rules, amounting to ₹ 4,78,260/- on inputs/work in progress/finished goods. - Assessee reversed the credit under the direction of superintendent and later filed a refund claim of the cenvat credit so reversed - held that:- CENVAT credit which was validly availed at the time of the receipt of the inputs for the manufacture of the final product, on which excise duty was payble, but subsequently utilized for the manufacture of the same final product which became exempted from payment of excise duty pursuant to a subsequent notification, was not liable to be reversed under Rule 6(1) of the CENVAT Credit Rules, 2002. - Decided in favor of assessee.
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