Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
Overlapping GST proceedings require Central and State authorities to designate one competent authority for coordinated adjudication of the same matter...
Composite healthcare supplies retain exemption when patient care is the contract's essential character, despite payment through an implementing agency...
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The HC allowed the appeal, holding that the insertion of Section 5A(1A) in the Central Excise Act, 1944 is prospective, not clarificatory. Prior to the amendment, the appellant had the option to forego the exemption on final products and pay duty to claim CENVAT credit on inputs. However, post-amendment, manufacturers of exempted excisable goods are prohibited from paying duty, precluding them from claiming CENVAT credit. The Tribunal erred in upholding the demand of CENVAT credit where the appellant had paid duty on final products and utilized input credits.
The HC allowed the appeal, holding that the insertion of Section 5A(1A) in the Central Excise Act, 1944 is prospective, not clarificatory. Prior to the amendment, the appellant had the option to forego the exemption on final products and pay duty to claim CENVAT credit on inputs. However, post-amendment, manufacturers of exempted excisable goods are prohibited from paying duty, precluding them from claiming CENVAT credit. The Tribunal erred in upholding the demand of CENVAT credit where the appellant had paid duty on final products and utilized input credits.
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