Unused CENVAT credit cannot be encashed without following the procedure

Balkrishna Industries Ltd. Vs Union of India (Rajasthan High Court) It appears quite undisputable that the petitioner had availed the facility of importing goods under advance licences without payment of duty. In some cases such advance licence were invalidated in order to procure raw material duty free from local manufacturers. Raw materials so procured were utilised for manufacturing the export goods. At that time the petitioner availed the CENVAT credit and later on claimed the rebate under rule 18. As is well known, the Central Excise Rules, 2002 recognise two regimes for equalising excise...