https://www.taxtmi.com/caselaws?id=256650 Interest on wrongly utilised AED (GSI) credit was analysed under the recovery scheme in Section 88(4) of the Finance Act, 2004 read with Section 11AB of the Central Excise Act, 1944. The later repayment mechanism introduced by Section 124 of the Finance Act, 2005, carrying a non-obstante clause, was treated as non-retrospective and applicable only where the wrong utilisation had not already been discharged before the 2005 amendment. Because the disputed credit had been reversed in December 2004, the 2005 scheme did not apply, and interest remained payable from the date of wrongful utilisation until payment. en-us Wed, 14 Jan 2015 00:00:00 +0530 Tue, 11 Aug 2015 13:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256650 Interest on wrongly utilised AED (GSI) credit was analysed under the recovery scheme in Section 88(4) of the Finance Act, 2004 read with Section 11AB of the Central Excise Act, 1944. The later repayment mechanism introduced by Section 124 of the Finance Act, 2005, carrying a non-obstante clause, was treated as non-retrospective and applicable only where the wrong utilisation had not already been discharged before the 2005 amendment. Because the disputed credit had been reversed in December 2004, the 2005 scheme did not apply, and interest remained payable from the date of wrongful utilisation until payment. Case-Laws Central Excise Wed, 14 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256650