https://www.taxtmi.com/caselaws?id=850 A conditional exemption notification was construed with the CENVAT credit rules governing capital goods. The applicant remained eligible for the concession under Notification No. 8/2003-CE as amended despite proposed foreign equity exceeding 25% and cessation of SSI status, because eligibility depended on the notification's own conditions and no contrary disqualification was shown. However, CVD and SAD credit on imported machinery could not be utilised for payment of duty on initial clearances while the exemption up to Rs. 100 lakhs operated, since the notification required non-utilisation of such credit until the exempt clearance threshold was exhausted and duty became payable. en-us Tue, 17 Oct 2006 00:00:00 +0530 Sun, 13 Apr 2008 18:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=850 A conditional exemption notification was construed with the CENVAT credit rules governing capital goods. The applicant remained eligible for the concession under Notification No. 8/2003-CE as amended despite proposed foreign equity exceeding 25% and cessation of SSI status, because eligibility depended on the notification's own conditions and no contrary disqualification was shown. However, CVD and SAD credit on imported machinery could not be utilised for payment of duty on initial clearances while the exemption up to Rs. 100 lakhs operated, since the notification required non-utilisation of such credit until the exempt clearance threshold was exhausted and duty became payable. Case-Laws Central Excise Tue, 17 Oct 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=850