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2017 (3) TMI 234 - HC - Central ExciseReversal of CENVAT credit - assessee availed off Cenvat Credit on the inputs in the manufacture of both, dutiable as well as exempted goods - Held that: - The Finance Act, 2010 makes an amendment of Rule 6 of Cenvat Credit Rules, 2002. Rule 6 was amended and is deemed to have been amended retrospectively, in the manner provided in column (3) of the Seventh Schedule, on and from and up to the corresponding date specified in column (4) of that Schedule, against the rule specified in column (2) of that Schedule - The respondent-assessee, even if it had failed to maintain a separate account in view of the retrospective amendment, it was entitled to reverse proportionate Cenvat Credit - The option of paying an amount equal to 10% sale value of exempted goods, therefore, could not have been enforced on the assessee - appeal dismissed - decided against Revenue.
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