Incorrect AED Credit Use in 2003: Interest Liability u/s 11AB Applies from Following Month Until Repayment.

Incorrect AED Credit Use in 2003: Interest Liability u/s 11AB Applies from Following Month Until Repayment. https://www.taxtmi.com/highlights?id=21831 Since, in this case the wrong utilisation of the AED (GSI) credit pertaining to period prior to 01/04/2000 has taken place in 2003 immediately after amendment to Rule 3 (6) of the Cenvat Credit Rules, 2002, the interest liability under Section 11AB would start from 1st day of the month succeeding the month in which the wrong utilisation had taken place till the payment of wrongly utilised credit. - AT en-us Wed, 18 Feb 2015 22:52:08 +0530 Wed, 18 Feb 2015 22:52:08 +0530 TaxTMI RSS Generator Incorrect AED Credit Use in 2003: Interest Liability u/s 11AB Applies from Following Month Until Repayment. https://www.taxtmi.com/highlights?id=21831 Since, in this case the wrong utilisation of the AED (GSI) credit pertaining to period prior to 01/04/2000 has taken place in 2003 immediately after amendment to Rule 3 (6) of the Cenvat Credit Rules, 2002, the interest liability under Section 11AB would start from 1st day of the month succeeding the month in which the wrong utilisation had taken place till the payment of wrongly utilised credit. - AT Highlights Central Excise Wed, 18 Feb 2015 22:52:08 +0530 https://www.taxtmi.com/highlights?id=21831