2016 (6) TMI 1285 - AT - Central Excise

Interest - penalty - Held that - there were sufficient balance of Cenvat credit in the statutory record maintained by the appellant which is RG-23A Part-II register - In existence of sufficient balance there shall not be levy of interest and so also there shall not be levy of penalty on the appellant - appeal allowed.

Summary

The Appellate Tribunal CESTAT CHENNAI allowed the appeal as there was sufficient Cenvat credit balance in the appellant's RG-23A Part-II register, based on a verification report from Revenue. Consequently, no interest or penalty was levied on the appellant.