This is in relation to the availment of CENVAT Credit on inputs used in manufacturing of goods which are supplied against ICB.
As per N 6/2006 CE - Supply against ICB is exempt from Central Excise Duty. Also as per FTP supplies against ICB is considered as Deemed Export.
Now the question is -
1. As the supplies against ICB is deemed export, whether CENVAT Credit on inputs used can be denied ?
2. Whether the supplies against ICB will be considered as exempt goods for the purpoose of Rule 6 of CCR, 2004 ?
Please advise.