Reversal of CENVAT Credit Clarified: Only Exempted Goods' Value Considered u/r 6(3A), Not Intermediate Goods (3A.

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....Reversal of CENVAT Credit - Valuation of exempted goods - The formula under Rule 6(3A) only requires the value of the exempted goods removed to be reckoned and not the value of the intermediate goods. The exempted good in this case is the urea. Its value is not in dispute. - The value of urea does not change for calculation of Cenvat to be reversed under Rule 6(3A). - AT....