https://www.taxtmi.com/caselaws?id=338104 Cenvat credit validly taken on inputs while the final product was dutiable was not required to be reversed merely because the assessee later opted for area based exemption under Notification No. 50/2003-CE. The Tribunal treated the reversal provisions as requiring a specific statutory mandate before already accrued credit can be taken away, and followed the settled view that exemption at a later stage does not by itself extinguish validly earned credit. The Revenue's challenge therefore failed. en-us Mon, 02 Jan 2017 00:00:00 +0530 Fri, 24 Feb 2017 13:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338104 Cenvat credit validly taken on inputs while the final product was dutiable was not required to be reversed merely because the assessee later opted for area based exemption under Notification No. 50/2003-CE. The Tribunal treated the reversal provisions as requiring a specific statutory mandate before already accrued credit can be taken away, and followed the settled view that exemption at a later stage does not by itself extinguish validly earned credit. The Revenue's challenge therefore failed. Case-Laws Central Excise Mon, 02 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338104