TMI Blog2017 (2) TMI 1140X X X X Extracts X X X X X X X X Extracts X X X X ..... ssue came up before Hon’ble High Court of Punjab & Haryana in the case of CCE, Panchkula Vs. HMT (TD) [2010 (4) TMI 1036 - PUNJAB AND HARYANA HIGH COURT] wherein it was held that at the time of availment of Cenvat Credit on inputs, the final product is dutiable, later on the final product became exempt, in such a situation, Cenvat Credit is not required to be reversed - the appellant is entitled f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... They stopped paying duty w.e.f. 01.09.2006 and surrendered their Registration Certificate. On pointing out by the Revenue, the appellant deposited an amount of ₹ 2,94.389/- attributed to Cenvat Credit involved on inputs lying in stock, inputs contained in semi finished goods and inputs contained in finished goods on the date of opting of exemption alongwith interest. Thereafter, the appella ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e other hand the Ld. AR reiterated the findings of the impugned order. 5. Heard both the parties and considered the submissions. 6. I find that the short issue involved in the matter is that whether appellant is required to reverse Cenvat Credit on inputs in a situation where at the time availing Cenvat Credit, the final product is dutiable but on later stage, the final product become exempt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... esent set of circumstances. No contrary judgment has been cited on behalf of the revenue. Therefore, the aforesaid judgments are the complete answer to the problem in hand. As issue has already been settled by the High Court of Punjab Haryana holding that at the time of availment of Cenvat Credit on inputs, the final product is dutiable, later on the final product became exempt, in such a s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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