https://www.taxtmi.com/caselaws?id=353277 Eligibility for Notification No. 8/03-CE turned on whether prior availment of CENVAT credit barred exemption after rescission of the earlier notification. One view treated the situation as revenue neutral, noting that the credit was utilised or reversed and that no real duty benefit accrued; on that reasoning, duty and interest were unsustainable, while penalty was not justified due to bona fide mistake. The other view held that the notification had to be strictly complied with and that availment of CENVAT credit violated the express condition of non-availment, making the assessee ineligible for exemption; duty and interest were therefore upheld, while penalty was set aside as bona fide. Because of this difference of opinion, the matter was referred for Third Member consideration. en-us Wed, 13 Dec 2017 00:00:00 +0530 Mon, 01 Jan 2018 06:00:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353277 Eligibility for Notification No. 8/03-CE turned on whether prior availment of CENVAT credit barred exemption after rescission of the earlier notification. One view treated the situation as revenue neutral, noting that the credit was utilised or reversed and that no real duty benefit accrued; on that reasoning, duty and interest were unsustainable, while penalty was not justified due to bona fide mistake. The other view held that the notification had to be strictly complied with and that availment of CENVAT credit violated the express condition of non-availment, making the assessee ineligible for exemption; duty and interest were therefore upheld, while penalty was set aside as bona fide. Because of this difference of opinion, the matter was referred for Third Member consideration. Case-Laws Central Excise Wed, 13 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353277