Register Price / Packages DEMO Option My Bookmarks Daily Newsletters Feedback/ Suggestions
Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


Case Laws Acts Notifications Circulars Classification Forms Manuals Articles News D. Forum Highlights Notes
TMI - e-Newsletter     TaxTMI    Taxation on gains arising out of compulsory...     TaxTMI    LTCG - year of assessment - The Tribunal noted...     TaxTMI    Penalty u/s. 270A - Under-reporting of income /...     TaxTMI    Exemption u/s 11 - assessee has not e-filed or not...     TaxTMI    Taxable supply or not - Entry fee collected from...     TaxTMI    Extinguishment of liability as per order of NCLT -...     TaxTMI    Violation of principles of natural justice -cryptic...     TaxTMI    Determination of time limit for filing of Appeal...     TaxTMI    Scope of SCN - impugned order proceeds on a...     TaxTMI    Penalty u/s. 271(1)(c) - Referring to a precedent...     TaxTMI    Penalty levied u/s 271(1)(c) - Transfer pricing...     TaxTMI    Seeking cancellation of the GST registration - The...     TaxTMI    Eligibility for Input Tax Credit - Failure to...     TaxTMI    Levy of penalty @200% - e-way bill which was...     TaxTMI    Levy of interest and penalty - transition of amount...     TaxTMI    Latest Case-Laws     TaxTMI    Latest Notifications + Circulars     TaxTMI    GST Council Decisions     TaxTMI       Right Stop
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Central Excise - Highlights / Catch Notes

Home Highlights February 2024 Year 2024 This

Recovery of interest on the wrongly availed credit - The ...

Central Excise

February 14, 2024

Recovery of interest on the wrongly availed credit - The Tribunal upheld that interest under Rule 14 is liable on wrongly taken credit, irrespective of its utilization, aligning with the Supreme Court's interpretation in the case of Union of India Vs Ind-Swift Laboratories Ltd. Additionally, it rejected the applicability of amendment arguments regarding "substitution" in Rule 14, emphasizing strict interpretation of taxing statutes without room for implications beyond the clear statutory language.

View Source

 

← Previous Next →

 

You may also like:

  1. There is no difference between the expression credit taken and the credit utilised for the purpose of recovery of wrongly availed credit Rule 14 of Cenvat Credit Rules,...

  2. Demand of Interest - CENVAT Credit - reversed the CENVAT credit wrongly availed much before the issuance of the show-cause notice - the CENVAT credit account which shows...

  3. Levy of interest and penalty - Reversal of CENVAT Credit (without utilization) on being pointed out, before issuance of SCN - period from January, 2005 to March, 2007 -...

  4. Levy of Interest and penalty - reversal of transitional credit - no records to show utilization of such credit - invocation of Section 74 of the TNGST Act, 2017,...

  5. Interest on delayed payment of tax. - Interest on ITC wrongly availed and utilized - Section 50 of CGST Act, 2017 amended

  6. Liability of Interest - reversal of credit before utilization - As per the amended Rule 14 w.e.f. 01.03.2015, the interest is chargeable for the act of wrong availment...

  7. CENVAT Credit - Inability to produce original invoices - appellant has wrongly availed the CENVAT Credit without an invoice prescribed under Rule 9(1)(f) of the CENVAT...

  8. Levy of interest - Cenvat credit availed wrongly - In the Rule it is clearly provided that whether the credit is taken or utilized the interest will be chargeable. In...

  9. Cenvat credit wrongly availed - appellant had entertained bonafide belief regarding availability of cenvat credit and therefore, extended period is not invokable - AT

  10. CENVAT Credit - Imposition of interest on unutilized credit - Rule 14 - whether a mere taken of CENVAT credit facilities without actually using it, would carry interest...

 

Quick Updates:Latest Updates

What's New:
    Latest Case Laws
What's New:
    Latest Notifications
What's New:
    Latest Circulars
H: Addition u/s 68 - unexplained share application money - genuineness an...
H: Validity of reopening of assessment - The High Court notes that certai...
H: Condonation of delay of 1085 days in filing the appeal u/s 260-A - Rev...
H: TDS u/s 194H - assessee is a cellular mobile service providers - Align...
H: Reopening of assessment u/s 147 - The High Court noted that the issue ...
H: Validity of reopening of assessment - The High Court found that the As...
H: Reopening of assessment u/s 147 - Reasons to believe - The High Court ...
H: Rectification application u/s 254 - Tribunal not followed the decision...
H: Reopening of assessment against entity ceased to exist/amalgamating en...
F: Refund of IGST Charged and collected from Foreign Customer on Export o...
H: Capital gain arising on transfer of land - STCG arising out of the tra...
H: Grant of approval u/s 80G(5) - Delay in filing From No. 10AB for appro...
H: Deduction u/s.80IA(4)(i) - assessee business is in the nature of work ...
H: Jurisdiction of the Tribunal to entertain the appeal related to duty d...
H: Seeking release of the original bill of lading and release of the carg...
H: Power of High Court to entertain writ petition - alternative efficacio...
F: sales Against 0.1% GST- if export not done within 90 Days
F: PAYMENT TO CINE OR TV ARTISTS. LIABILITY UNDER RCM
A: Collection of Entry Fee from visitors for Temple Hall Exempt under GST
A: State-wise Professional Tax Payment Deadlines in India: A Comprehensiv...
A: Low tax effect in pending appeals- The administrative role to withdraw...
F: INQUIRY BY THE APPELLATE AUTHORITY
F: Penalty under Section 73(1) of CGST Act, 2017
F: ITC of FY 2017-18 blocked
C: Clarification on the applicability of 3% amount on account of non-achi...
C: Suspension of inoperative SIONs
N: Amendment in the Export policy of Onions
N: Seeks to amend specified customs tariff notifications to exempt applic...
A: How to become a crorepati via SIP
C: Master Direction – Risk Management and Inter-Bank Dealings: Amendments