Home Case Index All Cases Central Excise Central Excise + AT Central Excise - 2017 (12) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (12) TMI 538 - AT - Central ExciseLiability of interest - Rule 14 of CCR 2004 - wrong availment of CENVAT credit - Held that: - appellant had availed Cenvat credit on capital goods which are received in the factory of the appellant as per the CCR, 2004. Appellant was entitled to take credit immediately on receipt of the capital goods in the factory. Once it was decided by the appellant that the machines not to be installed in the factory they suo moto reversed credit and declared in their ER-1 return in Feb, 2011 - In this fact availment of credit was legal and correct and hence it cannot be said that Cenvat credit was wrongly taken or utilized. In absence of nature of wrong availment of credit, interest provision under Rule 14 cannot be invoked - appeal allowed - decided in favor of appellant.
|