TMI Blog2014 (7) TMI 319X X X X Extracts X X X X X X X X Extracts X X X X ..... ly refunded, the person liable to pay duty, shall in addition to the duty is liable to pay interest. Section do not stipulate interest is payable from the date of book entry, showing entitlement of Cenvat credit. Interest cannot be claimed from the date of wrong availment of CENVAT credit and that the interest would be payable from the date CENVAT credit is taken or utilized wrongly - Following decision of CCE, Bangalore Vs. Bill Forge Pvt. Ltd. [2011 (4) TMI 969 - KARNATAKA HIGH COURT] - Stay granted. - E/40370/2014 - Misc. Order No.40562/2014 - Dated:- 25-3-2014 - Shri P.K. Das, J. For the Appellant : Ms. Ramya, Advocate For the Respondent : Ms. Indira Sisupal, AC (AR) ORDER The applicant has filed this application ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Vs. Sundaram Fasteners Ltd. - 2014-TIOL-201-HC-MAD. 6. After hearing both sides and on perusal of the records, I find that the Hon ble Karnataka High Court in the case of Bill Forge Pvt. Ltd. (supra) held as under:- 20. From the aforesaid discussion what emerges is that the credit of excise duty in the register maintained for the said purpose is only a book entry. It might be utilised later for payment of excise duty on the excisable product. It is entitled to use the credit at any time thereafter when making payment of excise duty on the excisable product. It matures when the excisable product is received from the factory and the stage for payment of excise duty is reached. Actually, the credit is taken, at the time of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e CENVAT credit is taken or utilized wrongly. 7. I find that in the case of Sundaram Fasteners Ltd. (supra), the question of law before the Hon ble High Court was that the Tribunal creation of the statute, whether can traverse beyond the provisions of CENVAT Credit Rules, 2004 when the same has the force of a statute. But in the case of Bill Forge Pvt. Ltd. (supra), the question of law before the Hon ble Karnataka High Court is the words, CENVAT Credit has been taken does it mean making an entry in the account books showing the entitlement of the said credit? Or does it mean the said credit found in the account books actually taken while clearing the finished products? 8. I find that the issue involved in the present case is dire ..... X X X X Extracts X X X X X X X X Extracts X X X X
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