https://www.taxtmi.com/caselaws?id=339440 Cenvat credit validly taken on duty-paid inputs when the final product was dutiable is not required to be reversed merely because the final product later becomes exempt. The operative principle is that subsequent exemption does not retrospectively affect the legality of credit already availed. On that basis, where the assessee voluntarily deposited the credit amount with interest after the product became exempt, the amount was refundable because reversal was not legally due. en-us Fri, 23 Dec 2016 00:00:00 +0530 Mon, 27 Feb 2017 10:57:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339440 Cenvat credit validly taken on duty-paid inputs when the final product was dutiable is not required to be reversed merely because the final product later becomes exempt. The operative principle is that subsequent exemption does not retrospectively affect the legality of credit already availed. On that basis, where the assessee voluntarily deposited the credit amount with interest after the product became exempt, the amount was refundable because reversal was not legally due. Case-Laws Central Excise Fri, 23 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339440