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TMI Blog2017 (2) TMI 837X X X X Extracts X X X X X X X X Extracts X X X X ..... ective and not retrospective in operation, the credit need not be reversed - Held that: - matter is remanded to the adjudicating authority to ascertain the fact whether the appellant had utilized the inputs procured before or after 01.3.2007 in the manufacture of goods and decide the issue afresh - appeal allowed by way of remand. - Central Excise Appeal No. 1747 of 2010 - Final Order No. A/10400 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 29.7.2004 from 1.7.2007. Later the demand was confirmed by both authorities below. 3. Ld. Advocate submitted that since they availed CENVAT credit on inputs prior to 01.3.2007, in view of the judgment of the Karnataka High court in the case of C.C.E., Bangalore II vs. Gokuldas Intimate Wear 2011 (270) ELT 351 (Kar.), the amendment to Rule 11(3) which was brought into effect from 01.3.2007, by v ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hich reads as under :- (3) A manufacturer or producer of a final product shall be required to pay an amount equivalent to the CENVAT credit, if any, taken by him in respect of inputs received for use in the manufacture of the said final product and is lying in stock or in process or is contained in the final product lying in stock, if, - (i) he opts for exemption from whole of the duty ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd semi finished products. The said amendment is prospective in nature. It comes into effect from only 1-3-2007. In the instant case, the period is anterior to 1-3-2007, which has no application. Therefore, the substantial questions of law raised in this appeal are answered in favour of the assessee and against the revenue. 5. I find force in the contention of the ld. A.R. for Revenue. Accordi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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