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of <h1>Manufacturers using SSI exemption can't claim Modvat/Cenvat credit on inputs for exempted goods; must reverse credit or pay duty.</h1> A manufacturer availing the Small Scale Industries (SSI) exemption from duty cannot simultaneously claim Modvat/Cenvat credit on inputs used for exempted goods. The Board examined a case where a manufacturer, who opted for SSI exemption, availed credit on inputs for dutiable goods and later reversed 8% of the price of exempted goods as per Cenvat Credit Rules. It was clarified that such manufacturers are not eligible for credit under these rules and must either reverse the credit on inputs for exempted goods or pay duty on those goods, as the exemption conditions were violated.
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