2018 (8) TMI 1380 - AT - Central Excise

Tribunal denies rectification request on CENVAT Credit interest calculation

The Tribunal dismissed the applicant's request for rectification of a mistake in an order concerning CENVAT Credit interest calculation, holding that ... Rectification of mistake - interest on delayed reversal of CENVAT credit - computation period for interest - date of effect of Cenvat Credit (Third Amendment) Rules, 2012Rectification of mistake - interest on delayed reversal of CENVAT credit - date of effect of Cenvat Credit (Third Amendment) Rules, 2012 - Miscellaneous application for rectification of the Tribunal's order seeking recalculation of interest up to 16 March 2012 instead of 31 March 2012 was dismissed. - HELD THAT: - The applicant sought correction of the Tribunal's order on the ground that interest for delayed reversal of CENVAT credit should be computed only up to 16 March 2012. The Tribunal's impugned order had applied the date of effect of the Cenvat Credit (Third Amendment) Rules, 2012, notified on 17.03.2012, and held that interest is chargeable on credit availed up to 31.03.2012. The present application sought rectification for an apparent error; however, examination of the impugned order shows that the Tribunal deliberately considered the amendment's effective date and fixed the computation period to 31.03.2012. There is therefore no apparent mistake in the order that can be corrected by a miscellaneous/rectification application.Application for rectification dismissed for lack of merit; no apparent mistake found in the Tribunal's computation period.Final Conclusion: The miscellaneous application for rectification was dismissed; the Tribunal's determination that interest is chargeable up to 31.03.2012 stands and no rectification is warranted. The applicant sought rectification of mistake in an order regarding CENVAT Credit interest calculation. Tribunal held interest chargeable up to 31.03.2012 based on Cenvat Credit Rules amendment. Miscellaneous application dismissed.