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TMI Blog2015 (2) TMI 1215X X X X Extracts X X X X X X X X Extracts X X X X ..... and in this case before the raw materials/inputs were issued for manufacture of exempted goods, credit has been reversed - when the inputs were taken out for manufacture of exempted goods, they ceased to be cenvated inputs and since separate accounts for the inputs were maintained at this stage, it can be considered as fulfilment of obligation - appeal dismissed - decided against Revenue. - E/762 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s in appeal before us. 2. Nobody is present for the respondent. Heard the ld. Authorised Representative. He submits that appellant had maintained BIN Cards and had reversed the credit before the inputs were issued for manufacture of exempted products. He submits that this is not sufficient and the assessee is not in compliance with the requirements of provisions. 3. We find that the Commissi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... k, were stock-transferred on payment of duty after reversing the credit already availed in the past by mistake. It is to be conceded that during the period under reference the appellants were maintaining separate accounts for the receipt, issue and inventory of the inputs used in the manufacture of exempted as well as dutiable goods. Hence, the order passed by the adjudicating authority is not cor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iew the obligation cast on the assessee to maintain separate accounts in respect of inputs for exempted goods can be laid to have been fulfilled. Therefore, it can be said that when the inputs were taken out for manufacture of exempted goods, they ceased to be cenvated inputs and since separate accounts for the inputs were maintained at this stage, it can be considered as fulfilment of obligation. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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