https://www.taxtmi.com/caselaws?id=343074 Valid Cenvat credit taken when the final product was dutiable was held not to require reversal merely because the assessee later opted for exemption under Notification No. 50/2003, as the reversal provision was treated as prospective and inapplicable to the period in dispute. The note also states that where the assessee became an exemption unit and could not utilise the credit, refund of the amount paid by reversal or through PLA should be granted in cash rather than credited to the Cenvat account. The stated result was relief against reversal of credit and against crediting the refund to the credit ledger. en-us Fri, 05 May 2017 00:00:00 +0530 Thu, 18 May 2017 07:32:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343074 Valid Cenvat credit taken when the final product was dutiable was held not to require reversal merely because the assessee later opted for exemption under Notification No. 50/2003, as the reversal provision was treated as prospective and inapplicable to the period in dispute. The note also states that where the assessee became an exemption unit and could not utilise the credit, refund of the amount paid by reversal or through PLA should be granted in cash rather than credited to the Cenvat account. The stated result was relief against reversal of credit and against crediting the refund to the credit ledger. Case-Laws Central Excise Fri, 05 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343074