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2016 (12) TMI 78 - AT - Central ExciseRefund of CENVAT credit reversed - due to the excisable goods become exempted, the appellant reversed CENVAT credit contained in the finished goods in process and final product. Part of the credit was reversed from CENVAT credit account and partly from PLA - Held that: - at the time of exemption Notification No. 30/2004-CE came into effect, there was no provision for reversal of credit in respect of inputs contained in the said exempted goods or lying as such for the reason that credit was availed prior to issuance of the exemption notification and at the time of availment of credit there was no bar and the CENVAT credit availed was correct and legal. As regards the provision for reversal of CENVAT credit in the aforesaid circumstances, the same was specifically inserted vide Rule 11(3) w.e.f. 01/03/2007, which cannot be applied retrospectively - refund justified - appeal allowed - decided against appellant-Revenue.
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