https://www.taxtmi.com/caselaws?id=420757 The Tribunal set aside the demand for payment of 6% of the value of exempted goods due to the appellant's non-filing of a declaration for opting of proportionate reversal of credit. Despite the procedural lapse, the appellant's timely reversal of the credit was deemed valid, following the Supreme Court's precedent that once credit is reversed, the Rule may not apply. The Tribunal concluded that the appellant's option for proportionate reversal of credit was valid, ultimately allowing the appeal in favor of the appellant. en-us Tue, 05 Apr 2022 00:00:00 +0530 Sat, 09 Apr 2022 07:54:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420757 The Tribunal set aside the demand for payment of 6% of the value of exempted goods due to the appellant's non-filing of a declaration for opting of proportionate reversal of credit. Despite the procedural lapse, the appellant's timely reversal of the credit was deemed valid, following the Supreme Court's precedent that once credit is reversed, the Rule may not apply. The Tribunal concluded that the appellant's option for proportionate reversal of credit was valid, ultimately allowing the appeal in favor of the appellant. Case-Laws Central Excise Tue, 05 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420757