https://www.taxtmi.com/caselaws?id=76056 A manufacturer that validly earned Modvat/Cenvat credit on inputs is not required to reverse that credit merely because the final product later becomes exempt from excise duty. The relevant entitlement arises when the inputs are received and the credit is lawfully taken, and later exemption of the finished goods does not, by itself, extinguish that credit. Rule 9(2) of the Cenvat Credit Rules, 2004 is treated as materially identical to Rule 57H(5) of the Central Excise Rules, 1944, and in the absence of any express reversal provision, the credit remains indefeasible even for stock, work-in-process, or finished goods held on the date of exemption. en-us Wed, 09 Dec 2009 00:00:00 +0530 Mon, 17 Jun 2013 15:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76056 A manufacturer that validly earned Modvat/Cenvat credit on inputs is not required to reverse that credit merely because the final product later becomes exempt from excise duty. The relevant entitlement arises when the inputs are received and the credit is lawfully taken, and later exemption of the finished goods does not, by itself, extinguish that credit. Rule 9(2) of the Cenvat Credit Rules, 2004 is treated as materially identical to Rule 57H(5) of the Central Excise Rules, 1944, and in the absence of any express reversal provision, the credit remains indefeasible even for stock, work-in-process, or finished goods held on the date of exemption. Case-Laws Central Excise Wed, 09 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76056