https://www.taxtmi.com/caselaws?id=380079 Rule 6(3D) of the Cenvat Credit Rules, 2004 creates a deeming fiction under which credit reversed by payment in the prescribed manner is treated as credit not taken for the purpose of an exemption notification. On that basis, where an assessee had initially availed credit on inputs used for exempted goods but later reversed it under Rule 6(3), the condition in Notification No. 30/2004-CE requiring that no Cenvat credit be taken was treated as satisfied. The Tribunal therefore held that the demand could not survive, and the penalty founded on the same demand was also unsustainable. en-us Thu, 21 Feb 2019 00:00:00 +0530 Tue, 14 May 2019 07:53:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380079 Rule 6(3D) of the Cenvat Credit Rules, 2004 creates a deeming fiction under which credit reversed by payment in the prescribed manner is treated as credit not taken for the purpose of an exemption notification. On that basis, where an assessee had initially availed credit on inputs used for exempted goods but later reversed it under Rule 6(3), the condition in Notification No. 30/2004-CE requiring that no Cenvat credit be taken was treated as satisfied. The Tribunal therefore held that the demand could not survive, and the penalty founded on the same demand was also unsustainable. Case-Laws Central Excise Thu, 21 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380079