https://www.taxtmi.com/caselaws?id=387473 The Tribunal dismissed M/s Raymond Ltd's appeal regarding the disallowance of a CENVAT credit balance of Rs. 5,22,29,835 upon opting out of a duty payment scheme. The Tribunal held that the rules disallowing the credit had prospective application and could not be applied retroactively. It emphasized compliance with notification conditions and ruled that the appellant could not retain the credit as they were no longer manufacturing excisable goods. The appeal was dismissed, highlighting the importance of adherence to notification criteria and the ineligibility of the appellant to retain the accumulated credit. en-us Wed, 23 Oct 2019 00:00:00 +0530 Thu, 24 Oct 2019 07:56:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387473 The Tribunal dismissed M/s Raymond Ltd's appeal regarding the disallowance of a CENVAT credit balance of Rs. 5,22,29,835 upon opting out of a duty payment scheme. The Tribunal held that the rules disallowing the credit had prospective application and could not be applied retroactively. It emphasized compliance with notification conditions and ruled that the appellant could not retain the credit as they were no longer manufacturing excisable goods. The appeal was dismissed, highlighting the importance of adherence to notification criteria and the ineligibility of the appellant to retain the accumulated credit. Case-Laws Central Excise Wed, 23 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387473