Home Highlights July 2014 Year 2014 This

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1. Levy of interest - Cenvat credit availed wrongly - In the Rule it is clearly provided that whether the credit is taken or utilized the interest will be chargeable. In...

2. Reversal of Credit availed but not utilized - penalty waived but demand of interest confirmed - HC

3. Levy of interest and penalty - Reversal of CENVAT Credit (without utilization) on being pointed out, before issuance of SCN - period from January, 2005 to March, 2007 -...

4. Demand of interest - whether interest is chargeable on the cenvat credit wrongly taken, though the same is reversed before utilization of the credit - Held No - AT

5. There is no difference between the expression credit taken and the credit utilised for the purpose of recovery of wrongly availed credit Rule 14 of Cenvat Credit Rules,...

6. Demand of interest on reversal of cenvat credit - reversal of credit against refund claim where the service tax was paid wrongly - provisions of Rule 14 of CENVAT...

7. Levy of interest on reversal of CENVAT Credit - Credit taken but not utilized till reversal - subsequent amendment has given befitting answer to all doubts existed...

8. Applicability of interest to CENVAT credit recovery - Availed versus Taken and / or utilization of credit - Recovery of CENVAT credit wrongly taken or erroneously...

9. Levy of Interest and penalty - reversal of transitional credit - no records to show utilization of such credit - invocation of Section 74 of the TNGST Act, 2017,...

10. Interest - Whether the appellant is required to pay interest for the intervening period where they have reversed the cenvat credit taken wrongly by them - cenvat credit...

11. Recovery of interest and imposition of penalty under Sections 77 & 78 is justified - Rule 14(1)(i) of CENVAT Credit Rules, 2004 provides that where the CENVAT Credit had...

12. Interest u/s 50(3) of the CGST Act, 2017, in cases of wrong availment of IGST credit and reversal thereof - There will not be any interest liability u/s 50(3) of CGST...

13. Interest and penalty on Cenvat credit Erroneously taken till reversal – the appellant took credit wrongly taken and was not utilized and subsequently reversed, there is...

14. Interest for taking the Cenvat credit wrongly - assessee had availed wrongly the Cenvat credit on capital goods - Before the credit was taken or utilized, the mistake...

15. Reversal of CENVAT Credit - damage of raw material - demand invoking extended period of limitation confirmed - HC