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2018 (3) TMI 448 - AT - Central Excise100% EOU - Since, the appellant had availed Cenvat credit of the CVD amount as per the formula prescribed under N/N. 10/2008-C.E., dated 01.03.2008, the department has objected to such availment of credit and confirmed the adjudged demand - Held that: - the appellant cannot plead that the N/N. 48/2008-C.E.(N.T.), dated 05.12.2008, issued subsequently, providing the formula for Cenvat credit will be applicable with retrospective effect. Further, the said notification nowhere prescribed that the same will have the retrospective operation - the law is well settled that in absence of any express provision contained in notification, ordinarily it cannot be presumed that same is retrospective in nature - the formula prescribed in notification dated 05.12.2008 will be effective prospectively, from its date of publication in the Official Gazette. Since the appellant has taken Cenvat credit due to wrong interpretation of the statutory provisions, it cannot be said that it had indulged into the activities of fraud, collusion etc. Therefore, the provisions of Rule 15 of the CCR 2004 cannot be invoked against the appellant for imposition of penalty. Appeal allowed in part.
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