Recovery of interest on wrongly taken CENVAT credit remains payable even if the credit was reversed before utilization. The CENVAT Credit Rules unambiguously require recovery of credit taken or utilized wrongly with interest; accordingly, interest is recoverable when credit has been wrongly taken even if it has not been utilized. The Board clarifies this to resolve conflict with earlier decisions delivered under the former Central Excise Rules and directs that field formations and trade be informed that reversal before utilization does not eliminate interest liability under the current rules.