https://www.taxtmi.com/caselaws?id=211094 Cenvat credit validly taken and utilised on inputs when the final product was still dutiable could not be demanded back merely because the product was later exempt. The credit, once lawfully earned and used, became indefeasible on the basis of Dai Ichi Karkaria and subsequent High Court authorities, and could not be divested by a later exemption notification. Amrit Paper was distinguished because that case involved an exemption conditional on non-availment of credit. Only unutilised credit remaining when the product became fully exempt would lapse. en-us Thu, 22 Sep 2011 00:00:00 +0530 Fri, 02 Mar 2012 13:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211094 Cenvat credit validly taken and utilised on inputs when the final product was still dutiable could not be demanded back merely because the product was later exempt. The credit, once lawfully earned and used, became indefeasible on the basis of Dai Ichi Karkaria and subsequent High Court authorities, and could not be divested by a later exemption notification. Amrit Paper was distinguished because that case involved an exemption conditional on non-availment of credit. Only unutilised credit remaining when the product became fully exempt would lapse. Case-Laws Central Excise Thu, 22 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211094