Recovery of Cenvat Credit: wrongly taken or refunded recoverable from manufacturer or service provider with interest. Recovery of Cenvat Credit wrongly taken, utilised or erroneously refunded is effected from the manufacturer or provider of output service; if not utilised the credit is recoverable, and if utilised or refunded recovery is with interest. Rule 14 applies mutatis mutandis to relevant excise and service tax provisions, deems credits for a month to be taken on the last day and prescribes order of utilisation. Show cause notice by the proper officer is mandatory and limitation periods run from the relevant date, with extended time for fraud or willful suppression. Voluntary reversal before utilisation avoids interest.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Recovery of Cenvat Credit: wrongly taken or refunded recoverable from manufacturer or service provider with interest.
Recovery of Cenvat Credit wrongly taken, utilised or erroneously refunded is effected from the manufacturer or provider of output service; if not utilised the credit is recoverable, and if utilised or refunded recovery is with interest. Rule 14 applies mutatis mutandis to relevant excise and service tax provisions, deems credits for a month to be taken on the last day and prescribes order of utilisation. Show cause notice by the proper officer is mandatory and limitation periods run from the relevant date, with extended time for fraud or willful suppression. Voluntary reversal before utilisation avoids interest.
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