https://www.taxtmi.com/caselaws?id=76278 Validly taken Modvat/Cenvat credit on inputs, work-in-process and finished goods was held not reversible merely because the final product later became exempt from duty. The Court applied the principle that such credit is indefeasible unless the governing rule expressly authorises reversal or repayment; Rule 9(2) of the Cenvat Credit Rules was treated as materially identical to Rule 57H(5) of the Central Excise Rules, 1944, and neither provision supported recovery on the facts. The assessee therefore retained the credit, and the revenue's demand for reversal failed. en-us Tue, 08 Dec 2009 00:00:00 +0530 Mon, 17 Jun 2013 18:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76278 Validly taken Modvat/Cenvat credit on inputs, work-in-process and finished goods was held not reversible merely because the final product later became exempt from duty. The Court applied the principle that such credit is indefeasible unless the governing rule expressly authorises reversal or repayment; Rule 9(2) of the Cenvat Credit Rules was treated as materially identical to Rule 57H(5) of the Central Excise Rules, 1944, and neither provision supported recovery on the facts. The assessee therefore retained the credit, and the revenue's demand for reversal failed. Case-Laws Service Tax Tue, 08 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76278