https://www.taxtmi.com/caselaws?id=377583 The tribunal upheld the demand of excess CENVAT Credit amounting to Rs. 1,48,42,336 for multiple years due to M/s. BSNL's erroneous availing of 100% credit instead of the mandated 50%. The tribunal ruled in favor of the Revenue, dismissing appeals and emphasizing compliance with CENVAT Credit Rules. While interest liability was acknowledged, the penalty under Section 78 of the Finance Act, 1994 was waived, considering Circular No. 1063/2/2018-CX's guidance against imposing penalties on Government or PSU Departments. en-us Tue, 26 Mar 2019 00:00:00 +0530 Mon, 01 Apr 2019 09:34:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377583 The tribunal upheld the demand of excess CENVAT Credit amounting to Rs. 1,48,42,336 for multiple years due to M/s. BSNL's erroneous availing of 100% credit instead of the mandated 50%. The tribunal ruled in favor of the Revenue, dismissing appeals and emphasizing compliance with CENVAT Credit Rules. While interest liability was acknowledged, the penalty under Section 78 of the Finance Act, 1994 was waived, considering Circular No. 1063/2/2018-CX's guidance against imposing penalties on Government or PSU Departments. Case-Laws Service Tax Tue, 26 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377583