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2017 (1) TMI 1184 - AT - Central ExciseReversal of CENVAT credit - whether the respondent was required to reverse the credit on inputs in stock which were lying in their factory at the time of opting the area based exemption under N/N. 50/2003-CE dated 10.6.2003 or not? Held that: - The issue has already been resolved by this Tribunal in the case of Himachal Futuristic Communications Ltd. [2016 (11) TMI 628 - CESTAT CHANDIGARH], where it was held that when the input-credit legally taken and utilised on the dutiable final products, need not be reversed on the final product becoming exempt subsequently unless specific provision exist therefor - At the time opting area based exemption of Notification No.50/2003-CE dated 10.6.2003, the appellants are not required to reverse the credit in their cenvat credit account lying unutilized. Appeal dismissed - decided against Revenue.
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