https://www.taxtmi.com/caselaws?id=236476 The Tribunal held that the respondent is liable to pay interest on excess credit taken and reversed under Rule 14 of the CENVAT Credit Rules, 2004. It clarified that interest is payable on wrongly taken or utilized credit, rejecting a previous High Court interpretation. The Tribunal also determined that the Rule 14 amendment does not have retrospective effect and upheld the entitlement to CENVAT credit on invoices from a registered depot, dismissing the appeal and affirming the respondent's right to claim credit based on valid documentation and proper use of inputs. en-us Mon, 08 Oct 2012 00:00:00 +0530 Thu, 29 Aug 2013 15:47:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236476 The Tribunal held that the respondent is liable to pay interest on excess credit taken and reversed under Rule 14 of the CENVAT Credit Rules, 2004. It clarified that interest is payable on wrongly taken or utilized credit, rejecting a previous High Court interpretation. The Tribunal also determined that the Rule 14 amendment does not have retrospective effect and upheld the entitlement to CENVAT credit on invoices from a registered depot, dismissing the appeal and affirming the respondent's right to claim credit based on valid documentation and proper use of inputs. Case-Laws Central Excise Mon, 08 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236476