https://www.taxtmi.com/caselaws?id=363542 The Tribunal held that Rule 11 (3) (ii) of the Cenvat Credit Rules, 2004 does not mandate the lapsing of balance credit in all exemption situations. The lower appellate authority's interpretation was deemed legally unsound. The appeal was allowed, setting aside the impugned order and providing consequential benefits in accordance with the law. The analysis clarified the distinct application of Rule 11 (3) (ii) and the legislative intent behind transitional provisions, offering clarity on the lapsing of cenvat credit in various exemption scenarios. en-us Wed, 11 Jul 2018 00:00:00 +0530 Sat, 14 Jul 2018 09:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=363542 The Tribunal held that Rule 11 (3) (ii) of the Cenvat Credit Rules, 2004 does not mandate the lapsing of balance credit in all exemption situations. The lower appellate authority's interpretation was deemed legally unsound. The appeal was allowed, setting aside the impugned order and providing consequential benefits in accordance with the law. The analysis clarified the distinct application of Rule 11 (3) (ii) and the legislative intent behind transitional provisions, offering clarity on the lapsing of cenvat credit in various exemption scenarios. Case-Laws Central Excise Wed, 11 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=363542