Reversal of cenvat credit

[JASVINDER SINGH GUJRAL]

Central Excise Notification No:19/2007 dt. 07th march 2007 exempted from payment of excise Duty by User, Under this not. cenvat cr to be reversed y/n ?

AI Summary

CENVAT Credit Reversal Needed for Aircraft Parts Exemption Under Entry 54B of Notification 6/2006, Amended by 19/2007. A user inquired about the necessity of reversing CENVAT credit under Central Excise Notification No. 19/2007, which exempts certain goods from excise duty. In response, another participant clarified that under entry no. 54B of Notification No. 6/2006, as amended by Notification No. 19/2007, CENVAT credit must be reversed to claim the exemption when removing parts of aircraft (excluding rubber tires and tubes) without excise duty payment if credit was availed on inputs used in manufacturing these goods.