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2016 (12) TMI 724 - CESTAT CHANDIGARHDemand of interest - in case of the inputs are cleared as such, the reversal of the Cenvat Credit should be on the consignment basis and not on the last day of the month, this facility for payment of duty on last of the month is in respect of manufactured goods. A show cause notice was issued to demand interest from the appellant - Held that: - we find that interest can be demanded under Section 11AB of the Act and the provisions of Section provides that the interest was charged from the first day of succeeding the month in which duty ought to have been paid. Admittedly, the reversal of cenvat credit was done on the last day of the month. In that circumstances, we hold that the provisions of Section 11AB of the Act are not attracted. Consequently, demand of interest is not sustainable. In these circumstances, impugned order deserves no merits, hence set aside - appeal allowed - decided in favor of appellant-assessee.
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