https://www.taxtmi.com/caselaws?id=337276 The Tribunal upheld the Commissioner (Appeals) orders, ruling that the assessee was not required to reverse the credit on inputs after opting for an area-based exemption under Notification No. 50/03-C.E. The Tribunal found that since the final product was dutiable when the credit on inputs was availed, opting for the exemption later did not necessitate credit reversal. The judgment clarified that the assessee correctly availed the credit in accordance with the Cenvat Credit Rules, leading to the dismissal of the Revenue's appeals. en-us Thu, 26 May 2016 00:00:00 +0530 Fri, 06 Jan 2017 13:40:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337276 The Tribunal upheld the Commissioner (Appeals) orders, ruling that the assessee was not required to reverse the credit on inputs after opting for an area-based exemption under Notification No. 50/03-C.E. The Tribunal found that since the final product was dutiable when the credit on inputs was availed, opting for the exemption later did not necessitate credit reversal. The judgment clarified that the assessee correctly availed the credit in accordance with the Cenvat Credit Rules, leading to the dismissal of the Revenue's appeals. Case-Laws Central Excise Thu, 26 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337276