https://www.taxtmi.com/caselaws?id=188043 Rule 3(4) of the Cenvat Credit Rules, 2002 was read to require payment on removal of inputs as such at the duty rate and value applicable on the date of clearance, rather than automatic reversal of the exact Cenvat credit originally taken. The Board clarification was treated as consistent with that plain reading. On that construction, where the duty payable at clearance is lower than the credit earlier availed, the manufacturer is not required to reverse the original credit in full merely for that reason, and the Revenue's higher demand is unsustainable. en-us Thu, 17 Dec 2015 00:00:00 +0530 Wed, 16 Nov 2016 11:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188043 Rule 3(4) of the Cenvat Credit Rules, 2002 was read to require payment on removal of inputs as such at the duty rate and value applicable on the date of clearance, rather than automatic reversal of the exact Cenvat credit originally taken. The Board clarification was treated as consistent with that plain reading. On that construction, where the duty payable at clearance is lower than the credit earlier availed, the manufacturer is not required to reverse the original credit in full merely for that reason, and the Revenue's higher demand is unsustainable. Case-Laws Central Excise Thu, 17 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188043