TaxTMI Login
AI OCR ✕Convert scanned orders, printed notices, PDFs and images into clean, searchable, editable text within seconds. Starting at 2 Credits/page
Try Now →Just a moment...
AI OCR ✕Convert scanned orders, printed notices, PDFs and images into clean, searchable, editable text within seconds. Starting at 2 Credits/page
Try Now →
Press 'Enter' to add multiple search terms. Rules for Better Search
Use comma for multiple locations.
---------------- For section wise search only -----------------
Accuracy Level ~ 90%
of 
Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of Press 'Enter' after typing page number.
Issues: Whether CENVAT credit validly earned and accumulated under the earlier regime could be denied for utilisation after the CENVAT Credit Rules, 2002 came into force, by applying Rule 6 to restrict credit on inputs used in exempted goods.
Analysis: Rule 9 of the CENVAT Credit Rules, 2002 treats credit earned under the earlier rules and remaining unutilized as admissible credit under the new rules and permits its utilisation in accordance with those rules. Rule 6, properly construed, restricts the taking of credit on inputs used in exempted goods after the new regime operates, but does not expressly take away credit already validly earned under the earlier rules. The credit once validly taken is indefeasible and available for utilisation unless the statute clearly provides otherwise. Since the restriction in Rule 6 was not retrospective, it could not divest the assessee of the accumulated credit.
Conclusion: The accumulated CENVAT credit could not be denied, and the assessee was entitled to utilise the entire credit.
Ratio Decidendi: Validly earned and accumulated CENVAT credit cannot be taken away by a later rule unless the later provision expressly operates retrospectively or clearly mandates reversal of such credit.
TaxTMI 
TaxTMI 
