Excise - Cestat Ahmedabad: In terms of strict provision of Rule 11(3) of Cenvat Credit Rules, the bar of lapsing of credit is applicable only when the assessee avail the absolute exemption notification - In the present case exemption notification, being a conditional one, bar of lapsing of Cenvat credit on stock shall not apply - Appeal allowed [Order attached]

22-Jan-2023 15:40:35