https://www.taxtmi.com/caselaws?id=328863 Reversal of 8% under Rule 57CC did not by itself establish compliance with exemption conditions requiring non-availment of credit. The dispute turned on whether the credit attributable to inputs used in the exempted goods had actually been reversed in full on a proportionate basis. The tribunal indicated that the factual position had to be verified against the credit originally availed, and any shortfall could be made good after giving the assessee an opportunity to do so. The order was therefore set aside and the matter remanded for verification of the actual credit reversed. en-us Fri, 06 May 2016 00:00:00 +0530 Tue, 14 Feb 2017 17:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328863 Reversal of 8% under Rule 57CC did not by itself establish compliance with exemption conditions requiring non-availment of credit. The dispute turned on whether the credit attributable to inputs used in the exempted goods had actually been reversed in full on a proportionate basis. The tribunal indicated that the factual position had to be verified against the credit originally availed, and any shortfall could be made good after giving the assessee an opportunity to do so. The order was therefore set aside and the matter remanded for verification of the actual credit reversed. Case-Laws Central Excise Fri, 06 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328863