9911796707
TMI Blog2021 (5) TMI 852X X X X Extracts X X X X X X X X Extracts X X X X ..... CETA, 1985. They avail Cenvat credit on various inputs/ input services during the relevant period. During the course of audit of their records in the year 2009, it was noticed that the Appellant had carried forward excess credit of Rs. 30,79,301/- in their CENVAT credit account in the opening balance for the month of September 2008 against the closing balance of August, 2008. The Appellant had accepted the said mistake and debited the excess credit of Rs. 30,79,301/- on 10th September 2009 but since they failed to discharge the interest of Rs. 4,10,480/- they were issued with a show-cause notice on 09/04/2010 for recovery of the same with proposal for penalty. On adjudication, the amount of Cenvat credit reversed was confirmed and appropria ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... malafide intention can be attributed to the excess credit availed when the Appellant switched over from ERP to SAP system w.e.f 01/09/2008. Besides, the said interest was already paid by them in 2011. Further, he has submitted that for demanding interest only, the relevant provision has been amended from 2015 hence, the said amendment cannot be applicable to the facts of the present case. 5. Learned AR for the Revenue reiterated the findings of the learned Commissioner(Appeals). He has submitted that on being pointed out by the audit, the excess amount of credit availed by them was reversed on 10/09/2009. But, since they failed to discharge interest applicable on the excess amount of credit availed for a period of almost one year, demand ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... T credit for the month of August 2008, while switching from ERP to SAP system w.e.f 01/09/2008, in the opening balance for the month of Sep. 2008. When such mistake was pointed out by the audit team while scrutiny of their records in Sep. 2009, the Appellant immediately reversed the entire credit on 10/09/2009 accepting the lapse on their part but failed to pay applicable interest on the excess credit availed. Consequently, a notice was issued to them on 09.04.2010 for recovery of the interest amount of Rs. 4,10,480/- on 09/04/2010 with proposal for imposition of penalty. It is the plea of the Appellant that the recovery of interest from the Appellant is barred by limitation, which in my opinion, is devoid of merit and substance, hence cann ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
