https://www.taxtmi.com/caselaws?id=3937 On opting out of the Cenvat credit scheme and availing small scale exemption, the assessee was not required to reverse credit attributable to inputs in stock, inputs in process, or inputs contained in finished goods by cash payment through PLA. The analysis states that the credit had been lawfully earned and utilised when the final products were dutiable, and there was no one-to-one correlation between particular inputs and the finished goods cleared. In the absence of a statutory requirement to trace validly availed credit to specific goods in stock, the credit already taken could not be denied merely because exemption was later chosen. en-us Tue, 30 Oct 2007 00:00:00 +0530 Mon, 12 May 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3937 On opting out of the Cenvat credit scheme and availing small scale exemption, the assessee was not required to reverse credit attributable to inputs in stock, inputs in process, or inputs contained in finished goods by cash payment through PLA. The analysis states that the credit had been lawfully earned and utilised when the final products were dutiable, and there was no one-to-one correlation between particular inputs and the finished goods cleared. In the absence of a statutory requirement to trace validly availed credit to specific goods in stock, the credit already taken could not be denied merely because exemption was later chosen. Case-Laws Central Excise Tue, 30 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3937