https://www.taxtmi.com/caselaws?id=350885 The Tribunal held that once an option under Rule 6(3) of the Cenvat Credit Rules 2004 is exercised, it cannot be altered within the same financial year. The appellant's attempt to switch options from discharging 10% of exempted products to reversing credit was disallowed. The Tribunal distinguished relevant case law and reduced the penalty imposed, emphasizing compliance with prescribed procedures. The appeal was partially allowed, confirming the decision on the appellant's option under Rule 6(3). en-us Tue, 31 Oct 2017 00:00:00 +0530 Sat, 02 Dec 2017 10:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350885 The Tribunal held that once an option under Rule 6(3) of the Cenvat Credit Rules 2004 is exercised, it cannot be altered within the same financial year. The appellant's attempt to switch options from discharging 10% of exempted products to reversing credit was disallowed. The Tribunal distinguished relevant case law and reduced the penalty imposed, emphasizing compliance with prescribed procedures. The appeal was partially allowed, confirming the decision on the appellant's option under Rule 6(3). Case-Laws Central Excise Tue, 31 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350885