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2013 (2) TMI 142 - MADRAS HIGH COURTNotification No.10/2008 CE (NT) dated 1st March 2008 brought the amendment to Rule 6 of the CENVAT Credit Rules, 2004 with effect from 1st April 2008 - whether the said amendment has the retrospective effect ? - Whether the inference drawn by the Tribunal that the respondent need not pay the amount at 10% of the price at which the DBM was cleared during the months of January and February, 2008 on the ground that the respondent had not availed CENVAT credit during the said months is correct? - Held that:- When the assessee had consistently taken the stand that it had not made any credit entry for the period January and February 2008, the question of any reversal of entry does not arise and only for the month of March 2008, where there was a reversal of entry, the claim has to be verified on the basis of the formula provided under Rule 6(3A) of the CENVAT Credit Rules. Hence, no exception could be taken to the order of the Tribunal. Respectfully agreeing with the decision of the Gujarat High Court in Shree Rama Multi Tech Ltd Vs. Union of India (2011 (2) TMI 575 - GUJARAT HIGH COURT) it is held that as on the date of the adjudication order and on the date of filing the appeal too, Section 73(2) itself was not available and that it was amended under the Finance Act, 2010 only during the pendency of the appeal. Thus, with the bona fide prosecution of the appeal no justifiable ground to accept the stand taken by the Revenue that in the absence of compliance of the conditions in Section 73(2) of the Finance Act, 2010 within the six months' period, the claim of the assessee has to fail. The question of such a compliance as on the date of adjudication or filing of the appeal not being there, when the Tribunal felt, on facts, that it was necessary to remand the matter back to the Adjudicating Authority. Thus, we have no hesitation in confirming the order of remand restoring the matter back to the Adjudicating Authority to consider the claim of the assessee. Direct the assessee to produce necessary evidence in the form of certificate from a Chartered Accountant or a Cost Accountant for the relevant period, certifying the amount of input credit attributable to the inputs used in or in relation to the manufacture of final product, which are exempt from the duty, along with documents on the reversal of entry made before the Adjudicating Authority.
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