https://www.taxtmi.com/caselaws?id=117141 Rule 4(5)(a) of the Cenvat Credit Rules was treated as a self-contained provision requiring reversal of credit if inputs sent to job workers were not received back within 180 days. Delayed reversal after expiry of that period was regarded as wrongful utilisation of credit, justifying recovery of interest and invocation of penalty because the delay caused loss to the exchequer. The Tribunal, however, considered the original penalty excessive for the nature of the lapse and reduced it to the stated amount. en-us Wed, 09 Nov 2005 00:00:00 +0530 Wed, 20 Jun 2012 15:44:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117141 Rule 4(5)(a) of the Cenvat Credit Rules was treated as a self-contained provision requiring reversal of credit if inputs sent to job workers were not received back within 180 days. Delayed reversal after expiry of that period was regarded as wrongful utilisation of credit, justifying recovery of interest and invocation of penalty because the delay caused loss to the exchequer. The Tribunal, however, considered the original penalty excessive for the nature of the lapse and reduced it to the stated amount. Case-Laws Central Excise Wed, 09 Nov 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117141