Section 5B - an assessee has paid duty of excise on a final products ........................ - Central Excise Act, 1944

[5B. Where an assessee has paid duty of excise on a final products and has been allowed credit of the duty or tax or cess paid on inputs, capital goods and input services used in making of the said product, the subsequently the process of making the said product is held by the court as not chargeable to excise duty, the Central Government may, by notification, order for non-reversal of such credit allowed to the assessee subject to such conditions as may be specified in the said notification. Provided that the order for non-reversal of credit shall not apply where an assessee has preferred a claim for refund of excise duty paid by him; Provided further that the Central Government may also specify in the notification referred to above for non-reversal of credit, if any, taken by the buyer of the said product;] ************************ Notes : (Section 5B has been inserted By Finance Act 2007 with effect from 11/5/2007)