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2019 (5) TMI 1179 - AT - Central ExciseCENVAT Credit - payment of duty through CENVAT Account - appellants contended that they had a credit on the goods lying in stock as on 01.06.2006 and they are eligible to pay the applicable duty through CENVAT also. Therefore, they have ended up paying more interest - HELD THAT:- The appellants have submitted that they have paid interest of ₹ 74,61,293/- and are entitled for refund of ₹ 62,36,018/- as there was huge stock of materials lying in stock as on 01.06.2006 the credit on which is available to them therefore the duty paid by them in cash should only be reckoned for the purpose of calculating interest as this is the duty which is actually not paid. The interest is payable on the differential amount only. However, in this case, the availability of credit is in dispute and this Bench has directed the lower authorities to allow credit after verifying the record, available with the appellants or the Department, pertaining to receipt (imports), storage and distribution of parts to various service centres within three months of receipt of the order. In view of the Miscellaneous Order, we find that the claim of interest by the appellant is pre-mature. The amount of credit available to the appellant needs to be arrived at by the authorities and thereafter, the net amount payable as on the date of payment of the duty by the appellants i.e. 04.05.2007 requires to be arrived at - the differential amount alone shall be reckoned for the purpose of payment of interest - Appeal allowed by way of remand.
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