https://www.taxtmi.com/forum/issue?id=107224 Where full CENVAT credit was taken on capital goods later rejected and subsequently found acceptable, the taxpayer should cancel the outward invoice, intimate the department via the official portal, disclose material facts and reverse the excess credit. Interest may be payable if the excess credit was utilized for duty payment on finished goods; application of the FIFO method determines whether utilization occurred, so reversal and documentation are required to address any departmental queries. en-us Sat, 23 Aug 2014 16:19:15 +0530 Thu, 23 Jan 2025 15:57:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=107224 Where full CENVAT credit was taken on capital goods later rejected and subsequently found acceptable, the taxpayer should cancel the outward invoice, intimate the department via the official portal, disclose material facts and reverse the excess credit. Interest may be payable if the excess credit was utilized for duty payment on finished goods; application of the FIFO method determines whether utilization occurred, so reversal and documentation are required to address any departmental queries. Discussion-Forum Central Excise Sat, 23 Aug 2014 16:19:15 +0530 https://www.taxtmi.com/forum/issue?id=107224