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Central Excise - Highlights / Catch Notes

Home Highlights August 2016 Year 2016 This

Demand of interest on reversal of Canvet Credit - only when a ...

Central Excise

August 1, 2016

Demand of interest on reversal of Canvet Credit - only when a debit occurs to such CENVAT account by way of utilization, would the exchequer be adversely affected, since otherwise the assessee would have to pay from account current or cash instead of adjusting from CENVAT account. - Demand of interest set aside - AT

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  1. Reversal of CENVAT credit - the appellants are not liable to pay interest for wrongful availment of Cenvat Credit which has been reversed before utilization by the appellant - AT

  2. Demand of interest - whether interest is chargeable on the cenvat credit wrongly taken, though the same is reversed before utilization of the credit - Held No - AT

  3. Excess utilisation of cenvat credit - Whether the appellant is liable to pay interest and penalty on account of alleged excess utilisation of cenvat credit - The demand...

  4. Reversal of Cenvat Credit - semi finished goods and intermediate goods destroyed during fire accident - demands raised of reversal of Cenvat Credit on the inputs confirmed - AT

  5. Levy of interest on reversal of CENVAT Credit - Credit taken but not utilized till reversal - subsequent amendment has given befitting answer to all doubts existed...

  6. Cross Utilization of CENVAT Credit - wrong utilization of Additional Duty of Excise (T&TA) for the payment of Basic Excise Duty and AED (GOSI) - levy of interest...

  7. Reversal of wrongly taken credit done - whether interest is chargeable from the date when it was taken upto the date of its reversal - demand of interest set aside - AT

  8. Reversal of CENVAT Credit - damage of raw material - demand invoking extended period of limitation confirmed - HC

  9. CENVAT Credit - duty paying documents - while mentioning the vehicle number, the clerical error has occurred - credit cannot be denied - demand set aside.

  10. Reversal of Credit availed but not utilized - penalty waived but demand of interest confirmed - HC

 

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