https://www.taxtmi.com/caselaws?id=204113 Reversal of Cenvat credit attributable to inputs used in exempted final products, where separate accounts were not maintained, was treated as sufficient compliance under Rule 6 of the Cenvat Credit Rules, 2002. The High Court accepted the Tribunal's reliance on Chandrapur Magnet Wires Ltd. and Maize Products, holding that once the credit relatable to exempted clearances is reversed, no further amount calculated at 8% of the exempted goods' value is payable. The Tribunal's approach was found consistent with the scheme of Rule 6 and binding precedent, and the appeal failed because no substantial question of law arose. en-us Thu, 16 Dec 2010 00:00:00 +0530 Wed, 09 Nov 2011 18:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204113 Reversal of Cenvat credit attributable to inputs used in exempted final products, where separate accounts were not maintained, was treated as sufficient compliance under Rule 6 of the Cenvat Credit Rules, 2002. The High Court accepted the Tribunal's reliance on Chandrapur Magnet Wires Ltd. and Maize Products, holding that once the credit relatable to exempted clearances is reversed, no further amount calculated at 8% of the exempted goods' value is payable. The Tribunal's approach was found consistent with the scheme of Rule 6 and binding precedent, and the appeal failed because no substantial question of law arose. Case-Laws Central Excise Thu, 16 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204113