https://www.taxtmi.com/caselaws?id=34970 Validly taken Cenvat credit on inputs in stock was not required to be reversed merely because the final product later became exempt from excise duty under an SSI exemption notification. Rule 9(2) of the Cenvat Credit Rules, 2002 was treated as materially identical to the earlier Modvat provision, and the settled interpretation was that credit lawfully earned on inputs remains available unless the rules expressly provide for cancellation or reversal. The Court aligned the provision with the prior Supreme Court construction and the consistent view of other High Courts. en-us Tue, 10 Nov 2009 00:00:00 +0530 Mon, 14 Jun 2010 10:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34970 Validly taken Cenvat credit on inputs in stock was not required to be reversed merely because the final product later became exempt from excise duty under an SSI exemption notification. Rule 9(2) of the Cenvat Credit Rules, 2002 was treated as materially identical to the earlier Modvat provision, and the settled interpretation was that credit lawfully earned on inputs remains available unless the rules expressly provide for cancellation or reversal. The Court aligned the provision with the prior Supreme Court construction and the consistent view of other High Courts. Case-Laws Central Excise Tue, 10 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34970