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TMI Blog2015 (1) TMI 336X X X X Extracts X X X X X X X X Extracts X X X X ..... duty in view of the provisions of Rule 6(1) of Cenvat Credit Rules, 2004 which provide that no credit can be taken in respect of inputs which are used in the manufacture of exempted goods." 2. Learned counsel for the parties have invited our attention on judgment dated 09.12.2009 rendered by a Coordinate Bench of this Court in C.E.O. No.14 of 2008 titled as Commissioner, Central Excise Chandigarh vs. M/s. Saboo Alloys Pvt. Limited. It is not disputed at the Bar that substantial question of law framed by the Court in the instant appeal, on identical facts, also stands answered by this Court in the said decision. For sake of profit, we reproduce the operative portion of the judgment: "The brief facts of the case are that the assessee is eng ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in Collector of Central Excise, Pune and others Vs. Dai Karkaria Ltd. and others 1999 (7) SCC 448 considered a similar question relating to the reversal of Modvat credit under Central Excise Rules, 1944. Rule 57H( 5) of the said Rules reads as follows:- "Where a manufacturer who opts for exemption from the whole of the duty of excise leviable on goods manufactured by him under a notification based on the value or quantity of clearances in a financial year, and who has been availing of the credit of the duty paid on inputs before such option is exercised, he shall be required to pay an amount equivalent to the credit, if any, allowed to him in respect of inputs lying in stock or used in any finished excisable goods lying in stock on the dat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he particular raw material to which the credit is related. The credit may be taken against the excise duty on a final product manufactured on the very day that it becomes available." Rule 9(2) of the Cenvat Rules reads as follows:- "A manufacturer who opts for exemption from the whole of the duty of excise leviable on goods manufactured by him under a notification based on the value or quantity of clearances in a financial year, and who has been taking of cenvat credit on inputs before such option is exercised, he shall be required to pay an amount equivalent to the cenvat credit, if any, allowed to him in respect of inputs product is destroyed by fire before stage of its removal from factory premise. In such circumstances, no excise duty ..... X X X X Extracts X X X X X X X X Extracts X X X X
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