https://www.taxtmi.com/caselaws?id=415048 Where proportionate CENVAT credit relatable to common input used for exempted goods is reversed before the show-cause notice and interest for delayed reversal is paid, the demand under Rule 6(3) for 10% of the value of exempted clearances does not survive. The retrospective amendment under Section 73 of the Finance Act, 2010 was also considered, but the decisive point remained the actual reversal of attributable credit with interest. On that basis, the demand was treated as unsustainable and set aside in favour of the assessee. en-us Tue, 09 Nov 2021 00:00:00 +0530 Thu, 25 Nov 2021 07:56:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415048 Where proportionate CENVAT credit relatable to common input used for exempted goods is reversed before the show-cause notice and interest for delayed reversal is paid, the demand under Rule 6(3) for 10% of the value of exempted clearances does not survive. The retrospective amendment under Section 73 of the Finance Act, 2010 was also considered, but the decisive point remained the actual reversal of attributable credit with interest. On that basis, the demand was treated as unsustainable and set aside in favour of the assessee. Case-Laws Central Excise Tue, 09 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415048