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2009 (2) TMI 171 - AT - Central ExciseInterest on Delayed Refund – Cash Refund of Cenvat Credit - The eligibility of cash refund of the amounts lying in Cenvat credit is not in dispute - . The limited issue is whether the interest is payable for the delay in paying refund - Held that - Cenvat credit lying unutilized in the assessee’s account cannot be treated like saving bank account or fixed deposit account in a bank. Till the debit is made in the Cenvat account, it is not a case of duty payment by the appellant. Only in cases of refund of duty paid, the question of interest will arise. Even during the period where the assessees were required to maintain a PLA in which cash credited by them is taken as credit, the said amounts were not earning any interest. Under these circumstances, the question of granting any interest on refund in cash of unutilized Cenvat credit does not arise.
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