https://www.taxtmi.com/caselaws?id=215421 Capital goods Cenvat credit already validly earned remains available unless the statute expressly withdraws it, and a later exemption of the final product does not by itself justify denial or reversal of the balance credit. The dispute concerned only whether the remaining credit could be taken in a subsequent year after the final product became exempt from duty; the settled principle applied was that accrued credit cannot be defeated merely by subsequent change in the taxability of the output. On that basis, the balance Cenvat credit was held to be admissible. en-us Thu, 05 Jan 2012 00:00:00 +0530 Tue, 24 Jul 2012 16:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215421 Capital goods Cenvat credit already validly earned remains available unless the statute expressly withdraws it, and a later exemption of the final product does not by itself justify denial or reversal of the balance credit. The dispute concerned only whether the remaining credit could be taken in a subsequent year after the final product became exempt from duty; the settled principle applied was that accrued credit cannot be defeated merely by subsequent change in the taxability of the output. On that basis, the balance Cenvat credit was held to be admissible. Case-Laws Central Excise Thu, 05 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215421