Reversal of credit amount tantamount to non availment of Cenvat Credit

Vineet Polyfab Pvt Limited Vs Commissioner of Central Excise & ST (CESTAT Ahmedabad) We find that though the appellant have availed Cenvat credit in respect of inputs used in the manufacture of Polyester Texturised Yarn and cleared under nil rate of duty but it is also a fact that appellant have reversed the amount equal to 6% as provided under Rule 6(3) of Cenvat Credit Rules, With reference to similar notifications, such condition of non-availment of credit, a specific provision is made by inserting sub Rule (3D) in Rule 6 of Cenvat Credit Rules, 2004 which reads as under:- “Payment o...