https://www.taxtmi.com/caselaws?id=339997 Cenvat credit validly taken and utilised while the final product was dutiable was not required to be reversed merely because the product later became exempt, so credit attributable to inputs contained in work-in-process and finished goods remained admissible. Credit on inputs lying in stock as such on the date the exemption came into force was not admissible, because those inputs were no longer relatable to a taxable final product. In light of the substantial admissibility of credit, the penalty was set aside, but interest continued to be payable on the inadmissible portion of credit. en-us Fri, 10 Feb 2017 00:00:00 +0530 Tue, 14 Nov 2017 11:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339997 Cenvat credit validly taken and utilised while the final product was dutiable was not required to be reversed merely because the product later became exempt, so credit attributable to inputs contained in work-in-process and finished goods remained admissible. Credit on inputs lying in stock as such on the date the exemption came into force was not admissible, because those inputs were no longer relatable to a taxable final product. In light of the substantial admissibility of credit, the penalty was set aside, but interest continued to be payable on the inadmissible portion of credit. Case-Laws Central Excise Fri, 10 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339997