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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>CENVAT Credit Use Limited to Exempted Products Under Notifications 32/99-CE and 33/99-CE; Refunds Adjusted Accordingly.</h1> The circular addresses the diversion of CENVAT credit on inputs used for manufacturing exempted products under North-East notifications. It specifies that CENVAT credit for duty paid on inputs used in products availing exemptions under notifications 32/99-CE and 33/99-CE should only be used for paying duty on such exempted products. It also limits the refund to the amount of duty paid minus the CENVAT credit availed. Notification No. 42/2002-CE(NT) disallows using this credit for other products to prevent unintended higher refunds, while Notification No. 61/2002-CE disallows excess refunds. The trade is informed accordingly.
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