2016 (3) TMI 1391 - SCH - Central Excise

CENVAT Credit - inputs - final goods exempt form duty - HELD THAT - The assessee had been rightly held entitled to reversal of the Cenvat credit in respect of the inputs which were produced with effect from 1-8-2004 the date from which the assessee was granted exemption from payment of Excise duty in respect of final products. Thus, when the reverse of Cenvat credit was given to the assessee on that date, final product was not exempted - In view thereof, Rule 6(1) of the Cenvat Credit Rules, 2002/2004 shall not be applied since the present cases are squarely covered by the judgment dated 11-8-1999 passed by this Court in COLLECTOR OF CENTRAL EXCISE, PUNE VERSUS DAI ICHI KARKARIA LTD. 1999 (8) TMI 920 - SUPREME COURT . Appeal dismissed.

Summary

The Supreme Court of India granted leave in a case where the assessee was entitled to reversal of Cenvat credit for inputs produced after being exempted from Excise duty. Rule 6(1) of the Cenvat Credit Rules, 2002/2004 was not applied as the cases were covered by a previous judgment. The appeals were dismissed with no costs.