https://www.taxtmi.com/caselaws?id=339130 Reversal of proportionate Cenvat credit on common inputs used in exempted medicaments, supported by batch records and bin cards, was treated as substantial compliance with the requirement to maintain separate accounts. The tribunal held that suo motu reversal of credit attributable to exempt clearances is equivalent to non-availment of credit, so the demand of 8% of the value of exempted goods could not be sustained merely because a separate ledger format was not maintained. The impugned order was modified and the appeal was allowed. en-us Fri, 27 Jan 2017 00:00:00 +0530 Mon, 21 Aug 2017 14:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339130 Reversal of proportionate Cenvat credit on common inputs used in exempted medicaments, supported by batch records and bin cards, was treated as substantial compliance with the requirement to maintain separate accounts. The tribunal held that suo motu reversal of credit attributable to exempt clearances is equivalent to non-availment of credit, so the demand of 8% of the value of exempted goods could not be sustained merely because a separate ledger format was not maintained. The impugned order was modified and the appeal was allowed. Case-Laws Central Excise Fri, 27 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339130