If we taken Excise credit wrong and then reverse with interest in whcih section we pay interest

[Swapneswar muduli]

Dear Sir,

We taken Cenvat credit wrongly when we indiantified it is wrong than we reversed with interest.

the interest amount which we paid in which section we mention inER-1.

Regards

Swapneswar

AI Summary

Guidance on Reversing Wrongly Taken Cenvat Credit: Mention Rule 14(1)(ii), Section 11 AA, or Section 75. A query was raised about the appropriate section to mention when reversing wrongly taken Cenvat credit with interest in the ER-1 return. One response suggested mentioning either Rule 14(1)(ii) of the Cenvat Credit Rules, 2004, Section 11 AA of the Central Excise Act, or Section 75 of the Finance Act, noting that Rule 14 is subject to these sections. Another response advised showing the interest paid under the 'details of other payment made' section in the ER-1 return.