https://www.taxtmi.com/caselaws?id=271512 Where an assessee availed CENVAT credit only on inputs used for dutiable final products on a proportionate basis, the demand for reversal could not be sustained merely because separate inventories or issue slips were not maintained. The record showed no credit was taken on inputs used in exempted goods, and the departmental report accepted the assessee's position for the relevant period. A retrospective amendment under the Finance Act, 2010 supported the proportionate credit methodology, so the confirmed demand and penalty did not survive. en-us Thu, 01 Oct 2015 00:00:00 +0530 Mon, 08 Feb 2016 13:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271512 Where an assessee availed CENVAT credit only on inputs used for dutiable final products on a proportionate basis, the demand for reversal could not be sustained merely because separate inventories or issue slips were not maintained. The record showed no credit was taken on inputs used in exempted goods, and the departmental report accepted the assessee's position for the relevant period. A retrospective amendment under the Finance Act, 2010 supported the proportionate credit methodology, so the confirmed demand and penalty did not survive. Case-Laws Central Excise Thu, 01 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271512