CENVAT credit recovery: wrongly taken or refunded credits must be recovered from the manufacturer, with interest where utilised. Rule 16 requires recovery of wrongly taken CENVAT credit from the manufacturer; if unutilised, recoveries follow section 11A of the Excise Act mutatis ... Summary
CENVAT credit recovery: wrongly taken or refunded credits must be recovered from the manufacturer, with interest where utilised.
Rule 16 requires recovery of wrongly taken CENVAT credit from the manufacturer; if unutilised, recoveries follow section 11A of the Excise Act mutatis mutandis, and if utilised or erroneously refunded, recovery is with interest applying sections 11A and 11AA mutatis mutandis.
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