2017 (9) TMI 604

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..... imposes a burden is always considered declaratory and cannot be applied retrospectively. Therefore, the provision introduced in 2007 requiring reversal of CENVAT Credit at the time of granting of remission of duty being obligatory in nature, will apply prospectively. Appellant's prayer on levy of interest calls for remand for re-adjudication as the appellant says that they are not liable to th .....

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..... oods or output services stand reduced by setting off the CENVAT Credit availed on the inputs used in the manufacture of goods or provision of output services. 2. Appellant says that when the liability to pay excise duty did not arise due to loss of finished goods and semi-finished goods destroyed before their removal from the factory due to flood/ in that situation, the question of reversal of .....

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..... . Therefore, the provision introduced in 2007 requiring reversal of CENVAT Credit at the time of granting of remission of duty being obligatory in nature, will apply prospectively. However, such decision relates only to the extent of reversal of CENVAT Credit in respect of inputs involved in the finished and semi-finished goods. 5. Appellant's prayer on levy of interest calls for remand fo .....

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