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2018 (6) TMI 1248 - AT - Central ExciseReversal of CENVAT Credit - Rule 6(3) of CCR, 2004 - manufacture of taxable as well as exempt goods - non-maintenance of separate records - Held that:- It is admitted fact that the appellants have reversed the proportionate Cenvat credit attributable to the turnover of natural gas an exempt product on 1st Sept. 2014 and 24th Jan. 2015. As regards the retrospective effect of the amended provisions under Rule 6(3), with effect from 1.3.2016, which enables an assessee to reverse the proportionate credit attributable to exempt turn over, the same stands adjudicated in favour of the assessee by Hon’ble Gujarat High Court in CCE Vs. Rituraj Holdings Pvt. Ltd. [2013 (2) TMI 34 - GUJARAT HIGH COURT], wherein the Hon’ble High Court have held that the provisions for reversal are retrospective or sub-rule 7 of Rule 6 have got retrospective effect. Demand set aside - penalty set aside - appeal allowed - decided in favor of appellant.
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