TMI BlogLiability of interest where CENVAT credit was wrongly taken but reversed by assessee before utilization-reg.X X X X Extracts X X X X X X X X Extracts X X X X ..... (Central Board of Excise & Customs) New Delhi, dated the 3rd September, 2009. To, All Director Generals, All Chief Commissioners of Central Excise (including LTU), All Commissioners of Central Excise (including LTU). Sir/ Madam, Subject: Liability of interest where CENVAT credit was wrongly taken but reversed by assessee before utilization-reg. Representation has been received from the fi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent referred to above, was delivered in the context of erstwhile Rule 57I of the Central Excise Rules, 1944 and that the Supreme Court order under reference is only a decision and not a judgement. Since, the Rule 14 of the CENVAT Credit Rules, 2004, is clear and unambiguous in the position that interest would be recoverable when CENVAT credit is taken or utilized wrongly, it is clarified that the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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