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2016 (3) TMI 395 - CESTAT MUMBAICenvat credit reversal at the time of clearance of imported and used Capital goods at the time of export against UT-1 Undertaking - Held that:- It is observed that Rule 57AB has been repealed and there is no parallel provision contained in the present Cenvat credit Rules, 2001/2002. The contention of the department that a manufacturer can export only the goods manufactured in India under bond without payment of duty is not tanable, in view of the fact that while importation of Capital goods, the Countravalling duty to the extent of Excise duty, as if the goods have been manufactured in India, had already been recovered. In view of the above, find that the Board's Circular No. 345/2/2000-TRU dated 29/8/2000 is applicable in this case and there is no need to reverse the credit already availed. Therefore, there is no merit in the stand of the department. - Decided in favour of assessee
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