Interest on cenvat

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..... Interest on cenvat
Query (Issue) Started By: - chaganti srinivas Dated:- 29-1-2010 Last Reply Date:- 29-1-2010 Central Excise
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Central Excise
We have debited cenvat involved in .....

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..... the written off material as per audit obection. As per rule 3(5B), this amount can be claimed back by us as and when we put to use for further manufacturing. Do we need to pay interest on this amount .....

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..... , if no, please refer case laws or any circulars. Reply By Rama Krishana: The Reply: No, there are specific provisions for interest. There is no specific provision for interest where the reversal is .....

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..... made under rule 3(5B). But, yes, if you delay in making reversal of credit, you may be liable to pay interest from the date on which you were liable to reverse the credit till the date on which you re .....

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..... verse the credit actually.
Discussion Forum - Knowledge Sharing .....

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