https://www.taxtmi.com/caselaws?id=30494 The Tribunal upheld the Commissioner (Appeals) order, rejecting the Revenue's appeal regarding the reversal of credit for inputs in finished goods upon opting for exemption. The decision was based on the interpretation of sub-rule (3) of Rule 11 of Cenvat Credit Rules, 2004, inserted by Notification No. 10/2007, which mandates the reversal of credit on inputs used in final products if exemption is chosen. The Tribunal emphasized the need to pay the equivalent amount of Cenvat credit on inputs when opting for exemption, citing relevant precedents and legal provisions. en-us Thu, 10 Jan 2008 00:00:00 +0530 Sat, 30 Aug 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30494 The Tribunal upheld the Commissioner (Appeals) order, rejecting the Revenue's appeal regarding the reversal of credit for inputs in finished goods upon opting for exemption. The decision was based on the interpretation of sub-rule (3) of Rule 11 of Cenvat Credit Rules, 2004, inserted by Notification No. 10/2007, which mandates the reversal of credit on inputs used in final products if exemption is chosen. The Tribunal emphasized the need to pay the equivalent amount of Cenvat credit on inputs when opting for exemption, citing relevant precedents and legal provisions. Case-Laws Central Excise Thu, 10 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30494