https://www.taxtmi.com/caselaws?id=183382 Rule 6 of the Cenvat Credit Rules, 2002 treats credit on inputs used in exempted final products as impermissible unless separate accounts are maintained, and where they are not, Rule 6(3) prescribes payment under clause (a) or, for other exempted goods, 8% of the sale price under clause (b). The note states that reversal of credit before clearance of exempted goods is not treated by the scheme as a substitute for the statutory payment, and that the Supreme Court ruling in Chandrapur Magnet Wires arose in a different statutory setting. Noting conflicting Tribunal views, the issue was referred to a Larger Bench for resolution. en-us Thu, 03 Apr 2008 00:00:00 +0530 Fri, 08 Sep 2017 09:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183382 Rule 6 of the Cenvat Credit Rules, 2002 treats credit on inputs used in exempted final products as impermissible unless separate accounts are maintained, and where they are not, Rule 6(3) prescribes payment under clause (a) or, for other exempted goods, 8% of the sale price under clause (b). The note states that reversal of credit before clearance of exempted goods is not treated by the scheme as a substitute for the statutory payment, and that the Supreme Court ruling in Chandrapur Magnet Wires arose in a different statutory setting. Noting conflicting Tribunal views, the issue was referred to a Larger Bench for resolution. Case-Laws Central Excise Thu, 03 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183382