RULE 5. CENVAT credit in exemption cases.

RULE 5. CENVAT credit in exemption cases. — Where the provisions of any other rule or notification provide for grant of whole or part exemption on condition of non-availability of credit of duty paid on any input, if the credit of duty paid on input is availed, the reversal of such credit after clearance of the goods (after the due date for payment of duty on such goods) shall render the manufacturer eligible for the exemption.