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

[Asked by Guest]

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

Cenvat credit reversal: report interest paid under the procedural rule or corresponding statute in the ER 1 return.
When erroneously taken Cenvat credit is reversed with interest, disclose the interest payment under the procedural rule for Cenvat adjustments or the corresponding statutory recovery and interest provisions; citing the procedural rule alone suffices as it is subject to the statutory provisions. In ER 1 return the interest may be shown under the heading for other payments or details of other payments to ensure the reversal and interest are reported.