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EASYOFFICE

Refund of cenvat credit

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Querist : Anonymous

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Querist : Anonymous (Querist)
15 June 2013 when assessee(exports the final product) pays 100% duty on inputs and claims refund and department due to some reasons only allow refund of input tax till 85% and disallows 15 % refund
such 15% will it be taken as wrong credit taken and accordingly rule 14 of cenvat applies of interest liability ???
case laws needed in supoort that interest sholud not be charged on such disallowed amount ,as interest liability arises only when credit has been taken and duty legally due to government is not paid.
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Arun Kumar Singh

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Arun Kumar Singh (Expert)
19 June 2013 Interest will be applicable on wrong credit taken or utilization.

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