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of <h1>Improper Cenvat Credit Claims Lead to Confiscation and Penalties Under Rule 15 and Sections 11AC, 78.</h1> Under Rule 15(1) and 15(2) of the Cenvat Credit Rules (CCR), if an entity improperly claims Cenvat Credit for inputs or capital goods, such goods are subject to confiscation, and the entity faces a penalty up to the greater of the duty amount or Rs. 2,000. If the credit is wrongly claimed due to fraud or intent to evade duty, penalties under Section 11AC of the Central Excise Act apply. Similarly, incorrect Cenvat Credit claims for input services due to fraud or evasion intent result in penalties under Section 78 of the Finance Act, 1994.
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