Cenvat Credit balance will not lapse only if product is exempted conditionally

Wearit Global Ltd. Vs C.C.E. (CESTAT Delhi) In the present case the appellant has opted for exemption as per the Notification No. 30/2004-CE where the exemption is conditional. As per Rule 11 (3)(ii) CCR, Cenvat Credit balance will lapse only if the product is exempted absolutely under Section 5A of Central Excise Act. But since the Notification No.30/2004 dated 09.07.2004 is a conditional notification, hence only Rule 11 (3)(i) of CCR would apply which does not mandate any such lapsing. FULL TEXT OF THE CESTAT DELHI ORDER The present appeal is against the order No.UDZ-EXCUS-000-COM-0019-16-17...