https://www.taxtmi.com/circulars?id=560 No CENVAT credit is admissible on inputs clearly and exclusively used in the manufacture of exempted finished goods. The rules allow either maintenance of separate accounts for inputs used for exempted and dutiable goods or the alternative payment mechanism, but that option applies only to common inputs used for both kinds of manufacture and does not authorize credit for inputs used exclusively for exempted products. Recovery action should be taken where credit was wrongly claimed. en-us Thu, 09 Oct 2003 00:00:00 +0530 Wed, 24 Sep 2008 12:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=560 No CENVAT credit is admissible on inputs clearly and exclusively used in the manufacture of exempted finished goods. The rules allow either maintenance of separate accounts for inputs used for exempted and dutiable goods or the alternative payment mechanism, but that option applies only to common inputs used for both kinds of manufacture and does not authorize credit for inputs used exclusively for exempted products. Recovery action should be taken where credit was wrongly claimed. Circulars Central Excise Thu, 09 Oct 2003 00:00:00 +0530 https://www.taxtmi.com/circulars?id=560