https://www.taxtmi.com/caselaws?id=341578 CENVAT credit on capital goods was not required to be reversed when final products later became exempt and the manufacturer opted for transitional exemption. The transitional rule was confined to credit on inputs or input services lying in stock, in process, or contained in final products on the date exemption was exercised, and did not extend to capital goods. Because the capital goods were received when the goods were dutiable and were not used exclusively for exempted goods, denial or reversal of credit was unjustified. Reversal of credit on the stock of capital goods was therefore not warranted. en-us Fri, 24 Feb 2017 00:00:00 +0530 Wed, 12 Apr 2017 07:17:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341578 CENVAT credit on capital goods was not required to be reversed when final products later became exempt and the manufacturer opted for transitional exemption. The transitional rule was confined to credit on inputs or input services lying in stock, in process, or contained in final products on the date exemption was exercised, and did not extend to capital goods. Because the capital goods were received when the goods were dutiable and were not used exclusively for exempted goods, denial or reversal of credit was unjustified. Reversal of credit on the stock of capital goods was therefore not warranted. Case-Laws Central Excise Fri, 24 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341578