https://www.taxtmi.com/caselaws?id=1266 Cenvat credit on molasses was admissible where the same common input was used in manufacturing both dutiable denatured ethyl alcohol and exempt extra neutral alcohol, because the stage at which the products emerged was immaterial and credit could not be denied merely due to exemption of one final product. Where separate accounts for common inputs were not maintained, the correct consequence was reversal of the prescribed 8% of the price of the exempt final products, not denial of the entire credit. The commentary states that total disallowance was unsustainable under the credit scheme. en-us Tue, 05 Sep 2006 00:00:00 +0530 Mon, 14 Apr 2008 15:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1266 Cenvat credit on molasses was admissible where the same common input was used in manufacturing both dutiable denatured ethyl alcohol and exempt extra neutral alcohol, because the stage at which the products emerged was immaterial and credit could not be denied merely due to exemption of one final product. Where separate accounts for common inputs were not maintained, the correct consequence was reversal of the prescribed 8% of the price of the exempt final products, not denial of the entire credit. The commentary states that total disallowance was unsustainable under the credit scheme. Case-Laws Central Excise Tue, 05 Sep 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1266