TMI Blog2016 (3) TMI 10X X X X Extracts X X X X X X X X Extracts X X X X ..... not utilized by them it is considered as if Cenvat credit not availed and therefore condition provided under clause 2(g) of the Notification No. 40/2012-ST stand complied with. - However, interest from the date of taking credit till the date of reversal is applicable - Decided partly in favor of assessee. - Appeal No. ST/89814/14 - Final Order No. A/2475/2015-WZB/(SMB) - Dated:- 8-6-2015 - MR. RAMESH NAIR, MEMBER (JUDICIAL) For the Petitioner : Shri. Mihir Deshmukh, Advocate For the Respondent : Shri. A.B. Kulgod, Asstt. Commissioner(A.R.) ORDER PER : RAMESH NAIR This appeal is directed against Order-in- Appeal No. 677-678/PD/14 dtd. 26/6/2014 passed by the Commissioner of Central Excise Service Tax (Appeals- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... credit and therefore there is no violation of condition of clause provided under 2(g) of the Notification No. 40/2012-ST. 3. Shri. A.B. Kulgod, Ld. Asstt. Commissioner(A.R.) appearing for the Revenue reiterates the findings of the impugned order. He further submits that though the appellant has reversed the Cenvat credit but even though they have not untilized the same in view of the supreme court judgment in the case of Union of India Vs. Ind Swift Lab. Ltd. [2011(265) ELT 3(SC)] interest is applicable from the date of taking credit till the date of reversal thereof. He submits that appellant was required to pay interest on the reversal of the credit. 4. I have carefully considered the submissions made by both sides and perused the r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er I agreeing with the Ld. A.R. that interest from the date of taking credit till the date of reversal is applicable for the reason that as per the Honble Supreme Court judgment in the case of Union of India Vs. Ind Swift Lab. Ltd.(supra) and also as per the Rule 14 clearly provides that interest is payable on the credit not only in respect of utilization but also in respect of taking credit. Agree with the ratio of the Supreme Court Judgment as well as Rule 14, I hold that appellant is required to pay the interest from the date of availment of credit on specified services till the date of reversal. On payment of such interest appellant shall be entitle for refund. I therefore remand the matter to the original adjudicating authority to dis ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
