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2017 (3) TMI 1123 - AT - Central ExciseSSI exemption - CENVAT credit - whether the appellant opting for availment of SSI Exemption on 1ST April, 2006 is liable to reverse any cenvat credit under the admitted fact that there was nil credit or balance in the Cenvat credit account? - Held that: - Rule 11 (2) of CCR, 2004, requires reversal of only unutilized amount of credit lying, if any on the date of opting for SSI Exemption Scheme. The Rule provides for calculation of such amount of Cenvat credit in respect of inputs lying in stock on the date when such option is exercised and after deducting the said amount, the balance, if any, lying in his credit still shall lapse and shall not be allowed to be utilized - the appellant had nil balance in their Cenvat credit account no amount was required to be reversed - appeal allowed - decided in favor of assessee.
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