The Hyderabad bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) held that the manufacturer of polyester spun yarn is eligible to avail reversal of CENVAT credit of Excise Duty on exempt turnovers under rule 6(3) of the CENVAT Credit Rules(CCR),2004. Suryauday Spinning Mills Ltd, the appellant assessee was engaged in the business…
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