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2008 (9) TMI 519 - AT - Service TaxInterest – Cenvat Credit - The respondent, a manufacturer of 'nylon multifilament yarn' was availing CENVAT credit on inputs and capital goods and utilizing for payment of excise duty for clearance of the final products. The original authority has held in respect of credit wrongly taken and in respect of credit which was required to be reversed as on 19.07.2004 but revered subsequently, interest is payable irrespective of the fact, whether the said amount was utilised or not. Held that – interest will be come payable only in respect of credit wrongly taken and which has been utilized.
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