https://www.taxtmi.com/caselaws?id=199337 An assessee opting for small scale industry exemption was not required to reverse CENVAT credit already validly taken on inputs in stock, work in progress, or finished goods. The CENVAT Credit regime was read as requiring only determination and debit of credit attributable to inputs where credit remained unutilised, not reversal of credit that had already been earned and lawfully utilised. The absence of a one-to-one correlation between inputs and final products also weighed against insisting on reversal. en-us Tue, 15 Dec 2009 00:00:00 +0530 Mon, 26 Feb 2018 16:30:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199337 An assessee opting for small scale industry exemption was not required to reverse CENVAT credit already validly taken on inputs in stock, work in progress, or finished goods. The CENVAT Credit regime was read as requiring only determination and debit of credit attributable to inputs where credit remained unutilised, not reversal of credit that had already been earned and lawfully utilised. The absence of a one-to-one correlation between inputs and final products also weighed against insisting on reversal. Case-Laws Central Excise Tue, 15 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199337