https://www.taxtmi.com/caselaws?id=325076 Goods cleared under Chapter X against CT-2 certificates are not treated as exempted clearances or goods chargeable to nil rate of duty. On that basis, the Cenvat credit rule requiring reversal in respect of exempted final products did not apply, because clearances made under Chapter X procedure or under bond are legally distinct from wholly exempt supplies. The CESTAT followed the earlier precedent relied on by the assessee and distinguished the Revenue's cited decision on its facts. The operative point is that duty-free clearance under Chapter X by itself does not trigger reversal of 8% or 10% of the value of the goods. en-us Thu, 19 Nov 2015 00:00:00 +0530 Thu, 10 Mar 2016 08:10:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325076 Goods cleared under Chapter X against CT-2 certificates are not treated as exempted clearances or goods chargeable to nil rate of duty. On that basis, the Cenvat credit rule requiring reversal in respect of exempted final products did not apply, because clearances made under Chapter X procedure or under bond are legally distinct from wholly exempt supplies. The CESTAT followed the earlier precedent relied on by the assessee and distinguished the Revenue's cited decision on its facts. The operative point is that duty-free clearance under Chapter X by itself does not trigger reversal of 8% or 10% of the value of the goods. Case-Laws Central Excise Thu, 19 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325076