Exemption conditioned on non-availability of input credit remains where credit is reversed after clearance and duty payment. Under Rule 5 of the CENVAT Credit Rules, 2017, reversal of input duty credit after clearance of goods and after the due date for payment of duty restores a manufacturer's eligibility for an exemption that was conditioned on the non-availability of credit of duty paid on inputs.
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Provisions expressly mentioned in the judgment/order text.
Exemption conditioned on non-availability of input credit remains where credit is reversed after clearance and duty payment.
Under Rule 5 of the CENVAT Credit Rules, 2017, reversal of input duty credit after clearance of goods and after the due date for payment of duty restores a manufacturer's eligibility for an exemption that was conditioned on the non-availability of credit of duty paid on inputs.
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