CENVAT Credit Reversal on Iron Ore Fines: Non-Excisable By-Product, Not Exempted Goods in Sponge Iron Production.

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....Reversal of CENVAT Credit - iron ore fines which emerges during the course of manufacture of sponge iron ore are in unavoidable and inevitable by-product and therefore same does not fall under the category of manufacture goods and accordingly same are not excisable. Thus, such goods cannot be considered as exempted goods....