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2016 (9) TMI 129 - AT - Central ExciseRevarsal of Cenvat credit - invokation of Rule 6(1) of the Cenvat Credit Rules, 2002 - appellant opted to avail exemption under Notification No. 30/2004-CE dated 9.7.2004 which provided exemption to the product manufactured by them - Cenvat credit availed on inputs lying in the stock, in process and contained in the final products, on the date of opting for exemption - Held that:- the Rule 9(2) of Cenvat Credit Rules, 2002 produced by the Revenue prescribed reversal of credit only in case where the exemption is based on value or quantity of clearances in a financial year. In the circumstance, we find that the decision of the larger bench of the Tribunals the case of Ashok Iron and Steel Fabricators [2002 (1) TMI 91 - CEGAT, NEW DELHI] is squarely, applicable to the instant case. Also it is found that the grounds of appeal do not contradict the averment made by the respondents before the Commissioner (Appeals). Therefore, if the respondent have used the inputs on which credit was taken only on dutiable finished goods, the question of invoking Rule 6 (1) does not arise. - Decided against the Revenue
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