https://www.taxtmi.com/caselaws?id=374075 The tribunal held that the 20% limit on Cenvat Credit utilization applies on a monthly basis, rejecting the appellant's argument for an overall consideration. Interest was deemed payable on the excess credit utilized, following precedent. No penalties were imposed as the restriction was on credit utilization, not availing. The tribunal remanded the matter for calculating interest on a monthly basis, disposing of the appeal accordingly. en-us Fri, 11 Jan 2019 00:00:00 +0530 Wed, 11 Sep 2019 11:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374075 The tribunal held that the 20% limit on Cenvat Credit utilization applies on a monthly basis, rejecting the appellant's argument for an overall consideration. Interest was deemed payable on the excess credit utilized, following precedent. No penalties were imposed as the restriction was on credit utilization, not availing. The tribunal remanded the matter for calculating interest on a monthly basis, disposing of the appeal accordingly. Case-Laws Service Tax Fri, 11 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374075