https://www.taxtmi.com/caselaws?id=46830 Cenvat credit validly accrued on light diesel oil held in stock before its exclusion from the definition of input remains governed by the unamended regime. The exclusion effective from 1 March 2003 does not operate retrospectively in the absence of express language. Applying the amended definition to stock on which credit had already accrued would improperly take away an accrued entitlement. A circular requiring reversal on that basis is inconsistent with the accrued right, and the reversed credit requires restoration. en-us Wed, 03 Dec 2003 00:00:00 +0530 Thu, 03 Sep 2026 13:07:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=46830 Cenvat credit validly accrued on light diesel oil held in stock before its exclusion from the definition of input remains governed by the unamended regime. The exclusion effective from 1 March 2003 does not operate retrospectively in the absence of express language. Applying the amended definition to stock on which credit had already accrued would improperly take away an accrued entitlement. A circular requiring reversal on that basis is inconsistent with the accrued right, and the reversed credit requires restoration. Case-Laws Central Excise Wed, 03 Dec 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=46830