2022 (10) TMI 580

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..../Shri Aditya Bhattacharya, Ms. Mounika Kasturi, Ms. Apeksha Mehta, Shri Sahil Parghi, Advocates, for the Petitioner. Shri N. Venkataraman, ASG and Mukesh Kumar Maroria, AOR and Vaishali Verma, Ms. Nidhi Khanna, Sanjay Kr. Tyagi, B.K. Satija, Smt. B. Sunita Rao, Gunmaya Mann, Ms. Sanskriti Pathak, V. Chandrashekhar Bharathi, Ms. Amritha Chandramouli and S. Ram Narayanan, Advocates, for the Respo....

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....he impugned judgment held that the proviso added in 2007 to sub-rule (5) of Rule 3 of the CENVAT Credit Rules, 2004 (in short "2004 Rules") was clearly clarificatory in nature. The High Court further relying on the judgment of this Court in W.P.I.L. Ltd., Ghaziabad v. Commissioner of Central Excise, Meerut, Uttar Pradesh reported in (2005) 3 SCC 73 = 2005 (181) E.L.T. 359 (S.C.), observed that the....

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....ay an amount equal to the CENVAT Credit taken on the said capital goods reduced by 2.5. per cent for each quarter of a year or part thereof from the date of taking the Cenvat Credit." 8. However, when the CENVAT Credit Rules were modified in 2004, the said proviso was not there in the said Rules. Subsequently by an amendment carried in 2007, the said proviso has been added. 9. The ....

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....rule (5) of Rule 3 existed in the 2002 Rules, by a legislature slip, it was not included in the 2004 Rules. As such, to clarify the position, an amendment was carried out in 2007 to bring it in tune with Rule 57-S(2)(b) of the 1944 Rules. 12. Having held that the amendment was clarificatory, in our view, the High Court erred in answering the question against the appellant. 13. Havi....