On claiming full exemption by assessee its credit balance had lapsed under Rule 11 and couldn't be u

Excise & Customs : If assessee starts claiming full exemption from duty from 1-4-2008, credit balance as on 31-3-2008 (after appropriate reversals in relation to stocks) would lapse under rule 11 of CENVAT credit Rules, 2004 and cannot be used in June, 2008 even for payment of duty on clearances made in March 2008 itself