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of <h1>High Court rules no interest due for unutilized Modvat credit</h1> <h3>COMMISSIONER OF C. EX., DELHI-III Versus MARUTI UDYOG LIMITED</h3> COMMISSIONER OF C. EX., DELHI-III Versus MARUTI UDYOG LIMITED - 2007 (214) E.L.T. 173 (P & H) The High Court dismissed the appeal by the revenue regarding the recovery of interest on wrongly availed Modvat credit by an assessee in 1998. The Tribunal ruled that the assessee did not actually avail of the credit but only made an entry in the Modvat record, therefore interest was not payable. No substantial question of law was found to arise.
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