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2016 (12) TMI 582 - CESTAT NEW DELHIChargeability of the interest on wrong availment of Cenvat Credit amounting to ₹ 35,14,493/- - Held that: - there is direct ruling on this issue by the Hon’ble Supreme Court in the case of Union of India vs. Ind-Swift Laboratories Ltd.[2011 (2) TMI 6 - Supreme Court], where it has been held that where Cenvat Credit is taken OR utilized wrongly, the same along with the interest is to be recovered from manufacturer or the provider of the output service. The Hon’ble Supreme Court in the said case specifically lays down that even when the Cenvat Credit has not been utilized, though taken wrongly the liability of interest would arise for the period when it was lying in the account of the assessee - appeal disposed off - decided against assessee.
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