https://www.taxtmi.com/caselaws?id=114829 Accumulated CENVAT credit could be utilised for duty on home clearances while small-scale exemption was availed, and credit on inputs used for export production could also be simultaneously claimed. The Board's circular treated such simultaneous availment as permissible, allowing the credit to be used once clearances crossed the exemption limit or to be refunded under the Modvat scheme. The same reading was applied to the later exemption notification, and no valid basis was shown to block debit entries against accumulated credit before the specified clearance threshold was reached. On that footing, the demand and penalty were unsustainable. en-us Tue, 14 Dec 2004 00:00:00 +0530 Mon, 21 May 2012 14:46:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114829 Accumulated CENVAT credit could be utilised for duty on home clearances while small-scale exemption was availed, and credit on inputs used for export production could also be simultaneously claimed. The Board's circular treated such simultaneous availment as permissible, allowing the credit to be used once clearances crossed the exemption limit or to be refunded under the Modvat scheme. The same reading was applied to the later exemption notification, and no valid basis was shown to block debit entries against accumulated credit before the specified clearance threshold was reached. On that footing, the demand and penalty were unsustainable. Case-Laws Central Excise Tue, 14 Dec 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114829