https://www.taxtmi.com/caselaws?id=344583 Rule 11(2) of the CENVAT Credit Rules, 2004 was applied to credit remaining unavailed and unutilised when a manufacturer re-entered the SSI exemption regime after having taken CENVAT credit. The provision requires credit attributable to inputs in stock, work-in-process or finished goods on the date of opting for exemption to be dealt with as prescribed, and the balance cannot be carried forward for duty payment. On that basis, the Tribunal accepted that the appellant could not utilise the leftover credit after opting for exemption, and the demand, interest and penalty were sustained. en-us Thu, 15 Jun 2017 00:00:00 +0530 Wed, 26 Jul 2017 14:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344583 Rule 11(2) of the CENVAT Credit Rules, 2004 was applied to credit remaining unavailed and unutilised when a manufacturer re-entered the SSI exemption regime after having taken CENVAT credit. The provision requires credit attributable to inputs in stock, work-in-process or finished goods on the date of opting for exemption to be dealt with as prescribed, and the balance cannot be carried forward for duty payment. On that basis, the Tribunal accepted that the appellant could not utilise the leftover credit after opting for exemption, and the demand, interest and penalty were sustained. Case-Laws Central Excise Thu, 15 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344583