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2017 (12) TMI 1082 - AT - Central ExciseCENVAT credit - proportionate Cenvat credit on account of exempted services - liability on interest - Electric Generating Set - Held that: - it has not been disputed that the appellant had sufficient balance in their Cenvat register, which amount was subsequently reversed, on being objected by the audit. Further it has been provided by way of amendment vide N/N. 18/2012-CE (NT) dated 17/03/2012 that no interest is chargeable upon subsequent reversal of the credit, if the assessee is able to demonstrate that they had not utilized the credit. The period of dispute in the present appeals is 2011-12 and 2012-13 - under the provisions of the amended Rule 14 of CCR, 2014 the same shall have retrospective effect and under the admitted fact that they have not applied the credit. I hold that they are not liable to pay interest. CENVAT credit - Electric Generating Set - Held that: - It is admitted fact that there is no stay granted by the Hon'ble Gujarat High Court against the order of the Tribunal. In this view of the matter, I find no merits in the appeal of the revenue. Appeal allowed - decided in favor of appellant-assessee.
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