https://www.taxtmi.com/caselaws?id=235026 Cenvat credit on inputs or raw materials destroyed in fire, and not used in the manufacture of final products, remained inadmissible because the credit scheme permits availment only on inputs used in or in relation to manufacture; the denial of such credit was upheld. For finished goods destroyed in fire, remission of duty could not be made conditional on reversal of Cenvat credit for the pre-7-9-2007 period, because the rule expressly requiring reversal operated only prospectively from that date and had no retrospective effect. The result was that the reversal condition was removed for the relevant earlier period while the credit denial on destroyed inputs was maintained. en-us Mon, 01 Oct 2012 00:00:00 +0530 Tue, 09 Jul 2013 10:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235026 Cenvat credit on inputs or raw materials destroyed in fire, and not used in the manufacture of final products, remained inadmissible because the credit scheme permits availment only on inputs used in or in relation to manufacture; the denial of such credit was upheld. For finished goods destroyed in fire, remission of duty could not be made conditional on reversal of Cenvat credit for the pre-7-9-2007 period, because the rule expressly requiring reversal operated only prospectively from that date and had no retrospective effect. The result was that the reversal condition was removed for the relevant earlier period while the credit denial on destroyed inputs was maintained. Case-Laws Central Excise Mon, 01 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235026