https://www.taxtmi.com/caselaws?id=436890 The tribunal ruled in favor of the appellant, a polyester yarn manufacturer, allowing them to carry forward a balance CENVAT credit of Rs. 32,32,703/- after opting for exemption under Notification No. 30/2004-CE. The tribunal held that since the exemption was conditional and not absolute, as per Rule 11(3) of CENVAT Credit Rules, 2004, the credit does not lapse. The impugned order was set aside, and the appellant was entitled to retain the CENVAT credit balance. en-us Thu, 20 Apr 2023 00:00:00 +0530 Sun, 23 Apr 2023 21:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436890 The tribunal ruled in favor of the appellant, a polyester yarn manufacturer, allowing them to carry forward a balance CENVAT credit of Rs. 32,32,703/- after opting for exemption under Notification No. 30/2004-CE. The tribunal held that since the exemption was conditional and not absolute, as per Rule 11(3) of CENVAT Credit Rules, 2004, the credit does not lapse. The impugned order was set aside, and the appellant was entitled to retain the CENVAT credit balance. Case-Laws Central Excise Thu, 20 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436890