https://www.taxtmi.com/caselaws?id=357541 The appellant, a manufacturer of woven fabrics, had reversed Cenvat credit after claiming duty drawback on exports. The department sought interest on the reversed credit. The Tribunal, considering relevant case law, held that interest is payable only if the credit benefit was utilized and not promptly reversed. As the appellant had not utilized the credit and promptly rectified the error, interest was deemed unjustified. Consequently, the Tribunal set aside the order, ruling in favor of the appellant. en-us Fri, 02 Feb 2018 00:00:00 +0530 Sat, 24 Mar 2018 08:41:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357541 The appellant, a manufacturer of woven fabrics, had reversed Cenvat credit after claiming duty drawback on exports. The department sought interest on the reversed credit. The Tribunal, considering relevant case law, held that interest is payable only if the credit benefit was utilized and not promptly reversed. As the appellant had not utilized the credit and promptly rectified the error, interest was deemed unjustified. Consequently, the Tribunal set aside the order, ruling in favor of the appellant. Case-Laws Service Tax Fri, 02 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357541