https://www.taxtmi.com/caselaws?id=250755 The Tribunal considered whether CENVAT credit could be retained without reversal on removal and export of inputs as such under bond to Nepal, and whether a prior circular supported full waiver of pre-deposit. It held that the current CENVAT Credit Rules do not preserve the earlier deeming fiction under the former Modvat regime, and that the cited circular was tied to that earlier framework. The Tribunal also noted that applying the circular to Nepal exports would upset the intended parity between bond-based and rebate-based export procedures. Full waiver was refused and only a partial pre-deposit was directed. en-us Tue, 28 Jan 2014 00:00:00 +0530 Sat, 16 May 2015 12:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250755 The Tribunal considered whether CENVAT credit could be retained without reversal on removal and export of inputs as such under bond to Nepal, and whether a prior circular supported full waiver of pre-deposit. It held that the current CENVAT Credit Rules do not preserve the earlier deeming fiction under the former Modvat regime, and that the cited circular was tied to that earlier framework. The Tribunal also noted that applying the circular to Nepal exports would upset the intended parity between bond-based and rebate-based export procedures. Full waiver was refused and only a partial pre-deposit was directed. Case-Laws Central Excise Tue, 28 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250755