Payment of 10% of value of exempted goods not enforceable after proportionate reversal of Cenvat Credit

Pr. Commissioner of CGST and Central Appellant Excise Vs Larsen & Toubro Limited (HED) (Bombay High Court)

Bombay High Court held that even if the assessee has failed to maintain a separate account it was entitled to reverse proportionate Cenvat Credit. The option of paying an amount equal to 10% of the value of exempted goods could not have been enforced on the assessee.

Facts- The controversy in the present appeal revolves around the purport and applicability of Rul

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