CENVAT Credit Eligibility Depends on Final Product's Dutiability When Capital Goods are Received, Not Later Exemptions.

CENVAT credit on Capital goods - capital goods were used for the manufacture of excisable goods on which duty was paid - subsequently assessee opted for exemption - eligibility of Cenvat credit is to be determined with reference to the dutiability of the final product on the date of receipt of capital goods. - AT .....

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