https://www.taxtmi.com/caselaws?id=231284 The court held that manufacturers are not required to reverse Cenvat Credit on inputs used in final products destroyed before September 7, 2007, unless duty remission specified credit reversal. The introduction of sub-rule (5C) of Rule 3 on that date was deemed prospective, not retrospective, clarifying the reversal requirement. The court emphasized interpreting tax statutes based on explicit language without inferring intent. The reference was answered accordingly, directing matters to the appropriate Bench for further action. en-us Wed, 29 Aug 2012 00:00:00 +0530 Tue, 29 Dec 2015 20:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=231284 The court held that manufacturers are not required to reverse Cenvat Credit on inputs used in final products destroyed before September 7, 2007, unless duty remission specified credit reversal. The introduction of sub-rule (5C) of Rule 3 on that date was deemed prospective, not retrospective, clarifying the reversal requirement. The court emphasized interpreting tax statutes based on explicit language without inferring intent. The reference was answered accordingly, directing matters to the appropriate Bench for further action. Case-Laws Central Excise Wed, 29 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=231284