https://www.taxtmi.com/caselaws?id=115828 A dispute under Rule 6(3) of the Cenvat Credit Rules, 2002 concerned whether reversal of Modvat credit on inputs used in exempted clearances justified unconditional waiver of pre-deposit. The article notes the competing views that reversal placed the assessee in the same position as if no credit had been taken, while the Revenue treated exempted goods as falling within a separate category requiring payment of 8% of the price under a different clause. The Tribunal found, prima facie, that the rule created two distinct situations and that full waiver was not made out. Interim relief was therefore limited to a reduced pre-deposit, with release of goods linked to deposit. en-us Thu, 16 Dec 2004 00:00:00 +0530 Mon, 04 Jun 2012 15:06:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=115828 A dispute under Rule 6(3) of the Cenvat Credit Rules, 2002 concerned whether reversal of Modvat credit on inputs used in exempted clearances justified unconditional waiver of pre-deposit. The article notes the competing views that reversal placed the assessee in the same position as if no credit had been taken, while the Revenue treated exempted goods as falling within a separate category requiring payment of 8% of the price under a different clause. The Tribunal found, prima facie, that the rule created two distinct situations and that full waiver was not made out. Interim relief was therefore limited to a reduced pre-deposit, with release of goods linked to deposit. Case-Laws Central Excise Thu, 16 Dec 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=115828