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2017 (1) TMI 600 - AT - Central ExciseWhether the appellant is required to pay interest and also needs to be penalized for non-reversal of Cenvat credit lying in balance? - reversal of credit against refund order. Held that: - There is no provisions in the Cenvat Credit Rules, 2004 which requires the appellant-assessee to reverse the Cenvat credit against the receipt of refund order. There is also no provision which mandates for demand of interest for late deposit of the refund cheque given to an assessee. In the absence of any such provision, demand of interest from the appellant for the period from the date of issue of cheque till the date of deposit for non-reversal of Cenvat credit seems inconsistent with law - appeal allowed - decided in favor of appellant.
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