https://www.taxtmi.com/caselaws?id=265983 Cenvat credit validly taken on inputs used for dutiable final products was not required to be reversed merely because the final products later became exempt. Applying binding jurisdictional precedent, the Tribunal noted that subsequent exemption does not defeat the basis of refund where the assessee cannot utilise the credit for payment of duty. Cash refund of the unutilised credit was therefore permissible, and the assessee was entitled to refund rather than reversal. en-us Tue, 07 Jul 2015 00:00:00 +0530 Fri, 16 Oct 2015 20:55:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265983 Cenvat credit validly taken on inputs used for dutiable final products was not required to be reversed merely because the final products later became exempt. Applying binding jurisdictional precedent, the Tribunal noted that subsequent exemption does not defeat the basis of refund where the assessee cannot utilise the credit for payment of duty. Cash refund of the unutilised credit was therefore permissible, and the assessee was entitled to refund rather than reversal. Case-Laws Central Excise Tue, 07 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265983