https://www.taxtmi.com/caselaws?id=178529 Subsequent reversal of Cenvat credit can satisfy an exemption notification condition requiring that no credit be availed on inputs used in exempted goods, because reversal places the assessee in the same position as if the credit had not been taken. On that basis, the exemption remained available and penalty was not warranted once entitlement to the notification was established. However, a limited factual verification was still required to confirm whether the credit reversed actually related to inputs used in the exempted final products, and interest was to be determined accordingly after such verification. en-us Tue, 24 Sep 2013 00:00:00 +0530 Mon, 08 Feb 2016 11:58:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178529 Subsequent reversal of Cenvat credit can satisfy an exemption notification condition requiring that no credit be availed on inputs used in exempted goods, because reversal places the assessee in the same position as if the credit had not been taken. On that basis, the exemption remained available and penalty was not warranted once entitlement to the notification was established. However, a limited factual verification was still required to confirm whether the credit reversed actually related to inputs used in the exempted final products, and interest was to be determined accordingly after such verification. Case-Laws Central Excise Tue, 24 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178529