https://www.taxtmi.com/caselaws?id=430370 The High Court upheld the Customs, Excise and Service Tax Appellate Tribunal's decision to drop proceedings against the respondent for a demand under Rule 6(3) of the Cenvat Credit Rules, 2004. The Court found that the respondent had complied with Section 73(2) of the Finance Act, 2010, by reversing the credit with interest before the show cause notice was issued. Relying on precedent cases, the Court concluded that the interest rate amendment should not apply retroactively in this case. The appeal was dismissed, emphasizing the importance of timely compliance with statutory provisions and the impact of relevant amendments on parties' rights. en-us Wed, 09 Nov 2022 00:00:00 +0530 Fri, 02 Dec 2022 13:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430370 The High Court upheld the Customs, Excise and Service Tax Appellate Tribunal's decision to drop proceedings against the respondent for a demand under Rule 6(3) of the Cenvat Credit Rules, 2004. The Court found that the respondent had complied with Section 73(2) of the Finance Act, 2010, by reversing the credit with interest before the show cause notice was issued. Relying on precedent cases, the Court concluded that the interest rate amendment should not apply retroactively in this case. The appeal was dismissed, emphasizing the importance of timely compliance with statutory provisions and the impact of relevant amendments on parties' rights. Case-Laws Central Excise Wed, 09 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430370