https://www.taxtmi.com/caselaws?id=345565 Where exempted goods emerge only as a by-product in an integrated manufacturing process, Cenvat credit reversal is confined to the inputs actually attributable to that by-product, and a value-based allocation is not required absent a statutory mandate. The assessee's quantity-based reversal, supported by actual consumption and production records, was therefore acceptable. The retrospective benefit under the Finance Act, 2010 was also available because the assessee had already reversed proportionate credit and paid interest, including differential interest, within the scheme's framework; procedural objections as to delay did not defeat the statutory benefit. The demand remained dropped and the assessee's treatment was upheld. en-us Thu, 15 Jun 2017 00:00:00 +0530 Wed, 02 Aug 2017 09:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345565 Where exempted goods emerge only as a by-product in an integrated manufacturing process, Cenvat credit reversal is confined to the inputs actually attributable to that by-product, and a value-based allocation is not required absent a statutory mandate. The assessee's quantity-based reversal, supported by actual consumption and production records, was therefore acceptable. The retrospective benefit under the Finance Act, 2010 was also available because the assessee had already reversed proportionate credit and paid interest, including differential interest, within the scheme's framework; procedural objections as to delay did not defeat the statutory benefit. The demand remained dropped and the assessee's treatment was upheld. Case-Laws Central Excise Thu, 15 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345565