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2018 (12) TMI 87 - AT - Service TaxDemand of Interest and penalty - CENVAT Credit availed but not utilized - Rule 14 of Cenvat Credit Rules - Held that:- Vide an amendment in rule 14 the word ‘or’ used herein has been substituted with word ‘and’. This particular amendment makes it clear that it is only when cenvat credit taken is utlised that the assessee shall be liable to pay the interest. Else no interest liability shall devolve upon the assessee. No doubt, the period in dispute is the period prior to the aforesaid amendment. But law has been settled that any amendment, which is beneficial in nature for the assessee has to be given a retrospective effect. The decision as relied upon by the appellant in the case of Bill Forge Pvt. Ltd. [2011 (4) TMI 969 - KARNATAKA HIGH COURT] makes it clear that even prior the amendment, the opinion formed was that since the assessee has not taken the benefit of the cenvat credit taken except entry in their account books, there was no liability to pay the interest. Demand of interest and penalty set aside - appeal allowed - decided in favor of appellant.
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