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2018 (9) TMI 638 - AT - Central ExcisePPMF Yarn - Benefit of N/N. 30/2004-CE dated 09.07.2004 - The case of the department is that, during the period 15.07.2004 to 21.10.2004, the appellant have cleared PPMF Yarn at nil rate of duty and at the same time, they availed Cenvat credit also - Held that:- The appellant have reversed the credit on fortnightly basis. It is also observed that the credit which was supposed to be reversed, against which the Cenvat credit balance was much higher than the credit reversed. Therefore, prima-facie, the appellant has reversed the credit without utilization of the same, in terms of Rule 6, sub-clause (7). Hon'ble Supreme Court in the case of Commissioner vs. Bombay Dyeing and Mfg. Company Limited [2007 (8) TMI 2 - SUPREME COURT], held that if the credit is reversed even after clearance of the goods and before utilization of the credit, the exemption under Notification No. 30/2004-CE is available to the assessee. It is observed from the order of both the lower authorities that they have not verified the regarding the non-utilisation of Cenvat credit and reversal of credit on fortnightly basis, therefore, only for that purpose, the matter needs to be remanded - appeal allowed by way of remand.
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