https://www.taxtmi.com/caselaws?id=329380 Reversal of the entire credit availed on common inputs was treated as sufficient compliance with the statutory option for proportionate reversal where inputs were used for both dutiable and exempted final products, so the 8% demand on exempted clearances could not survive. The Tribunal held that the assessee's full credit reversal met the requirement, but interest for the intervening period remained payable at the applicable rate. Penalty was not imposable, as the statutory consequence did not arise on these facts. en-us Tue, 15 Dec 2015 00:00:00 +0530 Sat, 12 Nov 2016 12:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329380 Reversal of the entire credit availed on common inputs was treated as sufficient compliance with the statutory option for proportionate reversal where inputs were used for both dutiable and exempted final products, so the 8% demand on exempted clearances could not survive. The Tribunal held that the assessee's full credit reversal met the requirement, but interest for the intervening period remained payable at the applicable rate. Penalty was not imposable, as the statutory consequence did not arise on these facts. Case-Laws Central Excise Tue, 15 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329380