https://www.taxtmi.com/caselaws?id=365622 Unutilized Cenvat credit did not lapse on opting for a conditional exemption, because Rule 11(3) of the Cenvat Credit Rules, 2004 distinguishes between absolute and conditional exemptions. A conditional exemption notification under Notification No. 30/2004-CE falls within Rule 11(3)(i), while lapse of the balance credit under Rule 11(3)(ii) applies only to an absolutely exempt final product. The earlier interpretation treating the two sub-rules as distinct alternatives was followed, so denial of credit utilisation was unsustainable. en-us Thu, 02 Aug 2018 00:00:00 +0530 Tue, 21 Aug 2018 06:52:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365622 Unutilized Cenvat credit did not lapse on opting for a conditional exemption, because Rule 11(3) of the Cenvat Credit Rules, 2004 distinguishes between absolute and conditional exemptions. A conditional exemption notification under Notification No. 30/2004-CE falls within Rule 11(3)(i), while lapse of the balance credit under Rule 11(3)(ii) applies only to an absolutely exempt final product. The earlier interpretation treating the two sub-rules as distinct alternatives was followed, so denial of credit utilisation was unsustainable. Case-Laws Central Excise Thu, 02 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365622