https://www.taxtmi.com/caselaws?id=122613 Rule 12 of the Cenvat Credit Rules, 2002 fastens interest liability where Cenvat credit is taken or utilised wrongly, or is erroneously refunded, and applies sections 11A and 11AB of the Central Excise Act, 1944 mutatis mutandis. The Tribunal held that once excess credit is wrongly availed, interest follows under the rule even if the assessee reverses the credit before issuance of the show cause notice. Prior reversal does not extinguish the statutory liability to pay interest on the wrongly taken credit. en-us Thu, 21 Jun 2007 00:00:00 +0530 Thu, 16 Aug 2012 10:10:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122613 Rule 12 of the Cenvat Credit Rules, 2002 fastens interest liability where Cenvat credit is taken or utilised wrongly, or is erroneously refunded, and applies sections 11A and 11AB of the Central Excise Act, 1944 mutatis mutandis. The Tribunal held that once excess credit is wrongly availed, interest follows under the rule even if the assessee reverses the credit before issuance of the show cause notice. Prior reversal does not extinguish the statutory liability to pay interest on the wrongly taken credit. Case-Laws Central Excise Thu, 21 Jun 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122613