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2017 (1) TMI 356 - AT - Central ExciseCENVAT credit - area based exemption - N/N. 50/2003-C.E., dated 10-6-2003 - whether the assessee has availed the benefit of Notification No. 50/03-C.E. ibid (area based exemption) is required to reverse the credit on the inputs already availed or not? - Held that: - at the time of availing the credit on inputs, the final product was dutiable, therefore, as per Rule 3 of Cenvat Credit Rules, 2004, the respondents have correctly availed the credit on inputs. Later on the respondents have opted to avail the benefit of exemption under N/N. 50/03-C.E., the respondents are not required to reverse the credit already availed by them - appeal dismissed - decided in favor of respondent-assessee.
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