Is intrest liable on unutilised cenvat amount

This query is : Resolved

SAGAR (Querist)
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29 December 2008 Hi sirs
we have taken cenvat credit on CTD bar & cement on March 2007 & reversed same on March 2008 without paying intrest.

Note: we had maintained credit balance for reversed amount till date of reversal.

please reply us.
Is intrest is liable on us for said matter.

Arbind Aggarwal

Arbind Aggarwal (Expert)
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15 January 2009 No interest is chargeable if credit is not utilised, there are many decision from Tribunal.

But deptt. generally objects to that and demand interest.