Unused CENVAT Credit does not incur any interest liability
Last updated: 21 June 2023
Court :
CESTAT, Kolkata
Brief :
The CESTAT, Kolkata in M/s. National Aluminium Company Limited v. Commissioner of Central Excise & Service Tax[Excise Appeal No.52 of 2011 dated June 08, 2023] held that the amendment in Rule 14 of the CENVAT Credit Rules, 2004 ("the CC Rules") which previously read as 'taken or utilized' but was changed to 'taken and utilized', clearly indicated the intention of the legislature not to impose interest where the credit had been taken but not utilized.
Citation :
Excise Appeal No.52 of 2011 dated June 08, 2023
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Bimal Jain
Published in Excise
Views : 213
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