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2013 (2) TMI 313 - AT - Central ExciseInterest u/s 11AB – Delay in reversal of Cenvat Credit – Input clear as such - Assessee manufacture excisable goods during the period March 2001 to August 2001 – Cenvat Credit reverse on 5.10.2001 – Held that:- The assessee’s ground that they are not required to reverse the Cenvat credit at all is not acceptable at this stage as they have not challenged the confirmation of demand of credit involved before proper forum by way of appeal. Following the decision in case of SKF India Ltd. (2009 (7) TMI 6 - SUPREME COURT) that for delayed payment interest is payable. As the provisions of Section 11AB for payment of interest came on 11.5.2001, therefore on delayed reversal of credit the respondents are liable to pay interest for the period from 12.5.2001 to 5.10.2001. Partly in favour of revenue
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