https://www.taxtmi.com/caselaws?id=30376 Modvat/Cenvat credit lawfully availed and utilised by a DTA unit before conversion into an EOU does not lapse merely because of the conversion. The Board's circular distinguishes between credit already used in relation to inputs or other eligible items, which need not be reversed, and only the unutilized balance standing in the account on the date of conversion, which lapses. On the stated facts, the credit had been taken from the inputs account and duty had been paid from that credit, so the circular did not support disallowance. The credit disallowance was therefore unsustainable. en-us Wed, 07 May 2008 00:00:00 +0530 Mon, 25 Aug 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30376 Modvat/Cenvat credit lawfully availed and utilised by a DTA unit before conversion into an EOU does not lapse merely because of the conversion. The Board's circular distinguishes between credit already used in relation to inputs or other eligible items, which need not be reversed, and only the unutilized balance standing in the account on the date of conversion, which lapses. On the stated facts, the credit had been taken from the inputs account and duty had been paid from that credit, so the circular did not support disallowance. The credit disallowance was therefore unsustainable. Case-Laws Central Excise Wed, 07 May 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30376