Intrest not payable when not utilized notification no

[Deepak Bhardwaj]

Please provide the notification no which was state that interest not payable when not utilized .

AI Summary

Interest on unutilised Cenvat credit not payable where credit was availed but not utilised after rule amendment.
Amendment requires credit to be availed and utilised before interest arises; therefore Cenvat credit that was availed but not utilised does not attract interest under the amended rule. For pre-amendment periods the issue remains contested and litigable, with tribunals and courts distinguishing earlier precedents and parties advised to challenge substantial demands.