https://www.taxtmi.com/caselaws?id=78199 Interest on wrongly taken CENVAT credit is attracted only when the credit is actually utilised and gives the assessee an undue benefit; mere entry of credit in the account without utilisation does not by itself create interest liability. In the context of opting for exemption and reversing credit on stock adjustment, the crucial question is whether sufficient credit was available on the date of opting out. If available credit was adequate, later physical reversal does not create a benefit warranting interest. If the balance was insufficient, the shortfall is liable to be paid with interest. The text states that the factual position on availability of credit required verification for limited determination of any interest payable. en-us Fri, 12 Sep 2008 00:00:00 +0530 Thu, 02 May 2013 14:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=78199 Interest on wrongly taken CENVAT credit is attracted only when the credit is actually utilised and gives the assessee an undue benefit; mere entry of credit in the account without utilisation does not by itself create interest liability. In the context of opting for exemption and reversing credit on stock adjustment, the crucial question is whether sufficient credit was available on the date of opting out. If available credit was adequate, later physical reversal does not create a benefit warranting interest. If the balance was insufficient, the shortfall is liable to be paid with interest. The text states that the factual position on availability of credit required verification for limited determination of any interest payable. Case-Laws Service Tax Fri, 12 Sep 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=78199