CENVAT Credit: No Recovery Needed When Credit Utilization Equals Reversal in Central Excise Context.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....CENVAT Credit - inputs - manufacture took place or not - payment of duty of excise - In effect, therefore, the utilization of credit for cleared products is tantamount to reversal and, hence, recovery of such credit is an exercise in superfluity. - AT....