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2018 (9) TMI 1348 - AT - Central ExciseReversal of Cenvat Credit - Absolute exemption or not? - Applicability of Rule 11(3) of Cenvat credit Rule, 2004 - Utilization of CENVAT credit lying unutilized - N/N. 30/2004 Central Excise date 09.07.2004 - Held that:- Notification No. 30/2004 Central Excise date 09.07.2004 do not grant exemption in absolute. In fact, it is a conditional exemption that if the assessee has not availed Cenvat credit on inputs, the exemption is available. The provision of Rule 11 (3) clause 2 are applicable only in a situation where exemption is absolute. Admittedly, in this case exemption is not absolute. In that circumstances, the provisions of Rule 11 (3) (2) are not applicable to the facts of this case, therefore, the Cenvat credit lying unutilized on 01.04.2006 shall not lapse and same can be utilized by the appellant latter on. Appeal allowed - decided in favor of appellant.
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