https://www.taxtmi.com/caselaws?id=335433 CENVAT credit validly taken before goods became exempt did not have to be reversed for the earlier period, because the obligation to reverse credit on exempted goods or inputs contained therein arose only on insertion of Rule 11(3) from 01.03.2007. That reversal requirement could not be applied retrospectively to a time when no such statutory bar existed. As the credit reversal was not legally required at the relevant time, rejection of the refund claim was unsustainable and the refund was admissible. en-us Mon, 24 Oct 2016 00:00:00 +0530 Fri, 17 Feb 2017 17:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335433 CENVAT credit validly taken before goods became exempt did not have to be reversed for the earlier period, because the obligation to reverse credit on exempted goods or inputs contained therein arose only on insertion of Rule 11(3) from 01.03.2007. That reversal requirement could not be applied retrospectively to a time when no such statutory bar existed. As the credit reversal was not legally required at the relevant time, rejection of the refund claim was unsustainable and the refund was admissible. Case-Laws Central Excise Mon, 24 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335433