Home Case Index All Cases Central Excise Central Excise + HC Central Excise - 2009 (11) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2009 (11) TMI 12 - HC - Central ExciseCenvat Credit – Rule 9(2) – reversal of credit - whether a manufacturer who has obtained credit of the Central Value Added Tax paid by him in respect of the raw material and inputs lying in stock or in process or contained in the final product lying in stock is required to refund/repay the credit when the final product is exempted from excise – held that - Since the language of Rule 9(2) of the Cenvat Rules is identical to that of Rule 57H(5) of the Excise Rules, we feel that the interpretation given by the Apex Court has to apply in the present case also and, therefore, even though the final product may be exempt from payment of excise, the assessee cannot be asked to reverse the Modvat credit already taken by it – answered in favor of assessee
|