Bar of Cenvat credit lapse not applies to conditional exemption – Rule 11(3)

Ruia Rayon Pvt Ltd. Vs C.C.E & S.T. (CESTAT Ahmedabad) No credit balance lapse under rule 11(3) as it applies only on absolute exemption notification and not on conditional one Conclusion: While in terms of strict provision of Rule 11(3) of Cenvat Credit Rules, 2004, the bar of lapsing of credit was applicable only when the assessee availed the absolute exemption and not on the conditional one. Held: The issue involved in the present case was that whether the appellant was entitled to carry forward the Cenvat credit after the date of availment of exemption Notification No. 30/2004-CE dated...