https://www.taxtmi.com/caselaws?id=218019 Clearances made under Chapter X procedure against CT-2 certificates are not treated as clearances of goods wholly exempt from duty or chargeable at nil rate, so Rule 6(3) of the Cenvat Credit Rules, 2004 does not require separate accounts for inputs in such cases. The reasoning distinguishes cases involving manufacture of both exempted and dutiable final products, where credit reversal principles may apply, and instead follows the earlier Tribunal view affirmed by the Supreme Court as directly governing this issue. On that basis, the demand for credit reversal, interest and penalty was held unsustainable and the appeal succeeded. en-us Tue, 23 Oct 2012 00:00:00 +0530 Tue, 30 Oct 2012 12:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218019 Clearances made under Chapter X procedure against CT-2 certificates are not treated as clearances of goods wholly exempt from duty or chargeable at nil rate, so Rule 6(3) of the Cenvat Credit Rules, 2004 does not require separate accounts for inputs in such cases. The reasoning distinguishes cases involving manufacture of both exempted and dutiable final products, where credit reversal principles may apply, and instead follows the earlier Tribunal view affirmed by the Supreme Court as directly governing this issue. On that basis, the demand for credit reversal, interest and penalty was held unsustainable and the appeal succeeded. Case-Laws Central Excise Tue, 23 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218019