https://www.taxtmi.com/caselaws?id=383086 CENVAT credit taken on capital goods was held not to lapse merely because a manufacturer later availed Small Scale Industry exemption. The relevant CENVAT Credit Rules and the exemption notification were read harmoniously to mean that any lapse on opting for exemption applied to inputs and input services, not capital goods. Credit on capital goods could be taken even during the exemption period, though utilisation remained in abeyance while the exemption operated. Once the SSI exemption ended, the credit could be carried forward and used, and consequential relief followed. en-us Fri, 03 May 2019 00:00:00 +0530 Wed, 17 Jul 2019 09:43:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383086 CENVAT credit taken on capital goods was held not to lapse merely because a manufacturer later availed Small Scale Industry exemption. The relevant CENVAT Credit Rules and the exemption notification were read harmoniously to mean that any lapse on opting for exemption applied to inputs and input services, not capital goods. Credit on capital goods could be taken even during the exemption period, though utilisation remained in abeyance while the exemption operated. Once the SSI exemption ended, the credit could be carried forward and used, and consequential relief followed. Case-Laws Central Excise Fri, 03 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383086