https://www.taxtmi.com/caselaws?id=371318 The Tribunal set aside the demand for interest on the reversed credit, ruling that liability to pay interest arises only when the credit is utilized, not just taken, as clarified by the amendment in Rule 14 of the Cenvat Credit Rules. The Tribunal emphasized that previous judgments supported this interpretation, highlighting that mere taking of credit without utilization does not attract interest payment. The Tribunal's decision was based on a thorough analysis of the rule and legal precedents, ensuring a fair outcome regarding the recovery of cenvat credit and liability for interest. en-us Mon, 26 Nov 2018 00:00:00 +0530 Mon, 03 Dec 2018 09:01:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371318 The Tribunal set aside the demand for interest on the reversed credit, ruling that liability to pay interest arises only when the credit is utilized, not just taken, as clarified by the amendment in Rule 14 of the Cenvat Credit Rules. The Tribunal emphasized that previous judgments supported this interpretation, highlighting that mere taking of credit without utilization does not attract interest payment. The Tribunal's decision was based on a thorough analysis of the rule and legal precedents, ensuring a fair outcome regarding the recovery of cenvat credit and liability for interest. Case-Laws Service Tax Mon, 26 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371318