https://www.taxtmi.com/caselaws?id=288421 Reversal of CENVAT credit on common inputs used in exempted final products, when made before utilisation and disclosed in ER-1 returns, was treated as equivalent to non-availment of credit. On that basis, the percentage-based demand under Rule 6(3)(b) of the CENVAT Credit Rules, 2002 did not survive and was set aside. The same disclosure also negatived suppression, so the extended period of limitation could not be invoked. As the duty demand failed, the associated penalty and interest were also held unsustainable, and the assessee obtained consequential relief. en-us Fri, 26 Aug 2005 00:00:00 +0530 Fri, 05 Jun 2020 18:23:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288421 Reversal of CENVAT credit on common inputs used in exempted final products, when made before utilisation and disclosed in ER-1 returns, was treated as equivalent to non-availment of credit. On that basis, the percentage-based demand under Rule 6(3)(b) of the CENVAT Credit Rules, 2002 did not survive and was set aside. The same disclosure also negatived suppression, so the extended period of limitation could not be invoked. As the duty demand failed, the associated penalty and interest were also held unsustainable, and the assessee obtained consequential relief. Case-Laws Central Excise Fri, 26 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288421