https://www.taxtmi.com/caselaws?id=445258 CESTAT Ahmedabad held that balance Cenvat Credit does not lapse under Rule 11(3) of Cenvat Credit Rules, 2004 when availing conditional exemption notification. The appellant availed Notification No. 30/2004-CE after reversing Cenvat Credit on inputs and final products. Revenue contended remaining credit should lapse. Tribunal ruled that credit lapsing provisions apply only to absolute exemptions, not conditional ones. Since the notification contained conditions regarding credit availment, it was not absolute exemption. Therefore, remaining credit balance need not lapse. Appeal allowed, impugned order set aside. en-us Fri, 27 Oct 2023 00:00:00 +0530 Thu, 02 Nov 2023 19:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445258 CESTAT Ahmedabad held that balance Cenvat Credit does not lapse under Rule 11(3) of Cenvat Credit Rules, 2004 when availing conditional exemption notification. The appellant availed Notification No. 30/2004-CE after reversing Cenvat Credit on inputs and final products. Revenue contended remaining credit should lapse. Tribunal ruled that credit lapsing provisions apply only to absolute exemptions, not conditional ones. Since the notification contained conditions regarding credit availment, it was not absolute exemption. Therefore, remaining credit balance need not lapse. Appeal allowed, impugned order set aside. Case-Laws Central Excise Fri, 27 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445258