https://www.taxtmi.com/caselaws?id=339069 Proportionate reversal of CENVAT credit attributable to input services used in exempted clearances was treated as sufficient, and the later amendment permitting such reversal was applied retrospectively for the pre-01.04.2008 period. The requirement to intimate exercise of the option was treated as procedural, so failure to file the intimation did not defeat the substantive entitlement. As the assessee had already reversed credit on a recognised formula and supported the computation with a Chartered Accountant's certificate, the demand of 10% of the value of exempted clearances was held unsustainable. en-us Thu, 12 Jan 2017 00:00:00 +0530 Sat, 18 Feb 2017 12:06:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339069 Proportionate reversal of CENVAT credit attributable to input services used in exempted clearances was treated as sufficient, and the later amendment permitting such reversal was applied retrospectively for the pre-01.04.2008 period. The requirement to intimate exercise of the option was treated as procedural, so failure to file the intimation did not defeat the substantive entitlement. As the assessee had already reversed credit on a recognised formula and supported the computation with a Chartered Accountant's certificate, the demand of 10% of the value of exempted clearances was held unsustainable. Case-Laws Central Excise Thu, 12 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339069