https://www.taxtmi.com/caselaws?id=153730 A valid conversion of a value based advance licence into a quantity based advance licence can preserve the benefit of the converted licence where the applicable notification does not bar input credit, provided the licence is not transferred. Once the assessee reverses the credit earlier availed on duty-paid inputs, the original objection to exemption is neutralised, and that prior availment does not by itself prevent re-credit of the amount debited in the PLA or RG.23A register. The Revenue's challenge failed because the converted licence and the reversed credit satisfied the notification conditions. en-us Tue, 08 Dec 2009 00:00:00 +0530 Mon, 11 Jun 2018 09:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=153730 A valid conversion of a value based advance licence into a quantity based advance licence can preserve the benefit of the converted licence where the applicable notification does not bar input credit, provided the licence is not transferred. Once the assessee reverses the credit earlier availed on duty-paid inputs, the original objection to exemption is neutralised, and that prior availment does not by itself prevent re-credit of the amount debited in the PLA or RG.23A register. The Revenue's challenge failed because the converted licence and the reversed credit satisfied the notification conditions. Case-Laws Central Excise Tue, 08 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=153730