https://www.taxtmi.com/caselaws?id=154399 Transitional CENVAT credit attributable to inputs or finished goods in stock on 1-3-2000 was held reversible under Rule 57AG(3)(a), while the balance credit not covered by that reversal continued to remain available under the preserved credit scheme. That excess credit could be used for subsequent clearances and, on a plain reading of Notification No. 6/2000-C.E., could also be utilised for duty payment because the notification did not require cash or PLA payment. Penalty was deleted on the footing of bona fide interpretation, though the duty demand on the reversed credit was sustained. en-us Tue, 18 Nov 2008 00:00:00 +0530 Mon, 19 Aug 2013 15:41:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=154399 Transitional CENVAT credit attributable to inputs or finished goods in stock on 1-3-2000 was held reversible under Rule 57AG(3)(a), while the balance credit not covered by that reversal continued to remain available under the preserved credit scheme. That excess credit could be used for subsequent clearances and, on a plain reading of Notification No. 6/2000-C.E., could also be utilised for duty payment because the notification did not require cash or PLA payment. Penalty was deleted on the footing of bona fide interpretation, though the duty demand on the reversed credit was sustained. Case-Laws Central Excise Tue, 18 Nov 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=154399