https://www.taxtmi.com/caselaws?id=250298 Reversal of proportionate CENVAT credit attributable to inputs used in exempted goods removes the further liability to pay 8% of the value of exempted clearances under the scheme. The Tribunal noted that, where common inputs are used for dutiable and exempt products, once the credit relatable to exempted goods is reversed and separate accounts are maintained, the additional percentage-based demand does not survive. It also treated the retrospective amendment to the relevant rules as confirming that reversal of credit extinguishes the obligation to pay the prescribed amount on exempt clearances. en-us Thu, 29 May 2014 00:00:00 +0530 Sat, 10 Jan 2015 12:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250298 Reversal of proportionate CENVAT credit attributable to inputs used in exempted goods removes the further liability to pay 8% of the value of exempted clearances under the scheme. The Tribunal noted that, where common inputs are used for dutiable and exempt products, once the credit relatable to exempted goods is reversed and separate accounts are maintained, the additional percentage-based demand does not survive. It also treated the retrospective amendment to the relevant rules as confirming that reversal of credit extinguishes the obligation to pay the prescribed amount on exempt clearances. Case-Laws Central Excise Thu, 29 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250298