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2020 (6) TMI 59 - AT - Central ExciseLapse of CENVAT Credit - exemption Notification No. 30/2004-CE dated 09.07.2004 w.e.f. 1st April, 2016 - HELD THAT:- On the plain reading of the above Rule 11 (3) (i) (ii), it is clear that as per sub-clause (2), the credit shall be lapsed only if the exemption under the Notification is absolute that means in case of conditional Notification the provision of lapsing of credit will not apply. In the case of PATODIA FILAMENTS PVT LIMITED VERSUS COMMISSIONER OF CENTRAL EXCISE & ST, DAMAN [2019 (8) TMI 201 - CESTAT AHMEDABAD] where it was held that In the present case all the conditions enumerated under sub rule 3 (i) has been followed by the Appellant and he is not required to reverse the entire credit lying in balance on the date of opting notification No. 30/2004–CE dated 09.07.2004. Therefore, the balance credit is not liable to be reversed. For the same reason the credit utilised by him for clearance of finished goods or capital goods. It is settled that after reversal of credit in respect of input, input in process and input contained in final products whatever balance is left shall lapse only when the Notification is unconditional. Appeal dismissed - decided against Revenue.
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