https://www.taxtmi.com/caselaws?id=245555 Where CENVAT credit was validly taken on inputs when the final goods were dutiable, later exemption of those goods did not justify an 8% demand once the assessee reversed the proportionate credit attributable to the exempted final products. The reversal was treated as legally effective, supported by the retrospective amendment in Section 68 of the Finance Act, 2010 and the Supreme Court principle that such reversal cures the liability otherwise arising on exempt clearances. On that basis, the demand was held unsustainable. en-us Tue, 04 Feb 2014 00:00:00 +0530 Wed, 02 Apr 2014 08:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245555 Where CENVAT credit was validly taken on inputs when the final goods were dutiable, later exemption of those goods did not justify an 8% demand once the assessee reversed the proportionate credit attributable to the exempted final products. The reversal was treated as legally effective, supported by the retrospective amendment in Section 68 of the Finance Act, 2010 and the Supreme Court principle that such reversal cures the liability otherwise arising on exempt clearances. On that basis, the demand was held unsustainable. Case-Laws Central Excise Tue, 04 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245555