https://www.taxtmi.com/caselaws?id=210857 The retrospective amendment to Rule 6 of the CENVAT Credit Rules by the Finance Act, 2010 applied to the relevant periods, and once the credit attributable to inputs used in exempted goods had been reversed, the basis for any further demand did not survive. The Court held that the assessee could retain the benefit of CENVAT credit without maintaining the accounts contemplated under Rule 6 in these circumstances, so the additional requirement to reverse 8% of the exempted goods' sale value, together with penalty and interest, was unsustainable. The issue was answered in favour of the assessee and against the revenue. en-us Fri, 01 Apr 2011 00:00:00 +0530 Wed, 30 May 2012 12:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210857 The retrospective amendment to Rule 6 of the CENVAT Credit Rules by the Finance Act, 2010 applied to the relevant periods, and once the credit attributable to inputs used in exempted goods had been reversed, the basis for any further demand did not survive. The Court held that the assessee could retain the benefit of CENVAT credit without maintaining the accounts contemplated under Rule 6 in these circumstances, so the additional requirement to reverse 8% of the exempted goods' sale value, together with penalty and interest, was unsustainable. The issue was answered in favour of the assessee and against the revenue. Case-Laws Central Excise Fri, 01 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210857