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TMI Blog2012 (3) TMI 182X X X X Extracts X X X X X X X X Extracts X X X X ..... to the inputs utilized in exempted product is enough and assessee need not to reverse 8% or 10% of the value of the exempted goods. Further, amendment also brought to the provisions of Rule 6 of CENVAT Credit Rules, 2004. In present case, assessee had reversed an amount of Rs.20,14,456/- and interest of Rs.16,10,915/-. Whereas CENVAT attributable to the inputs used in exempted goods comes to Rs.1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d involved in this case is from 01.03.2004 to 31.01.2009. In our considered opinion, the retrospective amendment brought in by the Budget 2008 will apply in this case the legislature had brought in statute that reversal of CENVAT Credit attributable to the inputs utilized in exempted product is enough and if it is so, the assessee need not to reverse 8% or 10% of the value of the exempted goods. F ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . We are of the view that the issue needs to be re-considered by the adjudicating authority and factual matrix needs to be gone into detail by the adjudicating authority. 5. In view of this, without expressing any opinion on the merits of the case, keeping all the issues open, we set aside the impugned order and remand the matter back to adjudicating authority to reconsider the issue afresh af ..... X X X X Extracts X X X X X X X X Extracts X X X X
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