https://www.taxtmi.com/caselaws?id=280279 The article addresses whether interest is leviable when Cenvat credit is wrongly taken but not utilised, and whether the amendment to Rule 14 of the Cenvat Credit Rules, 2004 is clarificatory. It notes the Tribunal's view that mere non-utilisation would not waive interest, alongside the competing authorities in IndSwift Laboratories and Strategic Engineering. The Madras High Court view recorded in the text is that, where credit is only taken and not utilised, no interest can be levied, because the amendment replacing "taken or utilised" with "taken and utilised" is treated as clarificatory. The Bombay High Court admitted the substantial question of law for consideration. en-us Mon, 15 Oct 2018 00:00:00 +0530 Sun, 28 Apr 2019 11:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280279 The article addresses whether interest is leviable when Cenvat credit is wrongly taken but not utilised, and whether the amendment to Rule 14 of the Cenvat Credit Rules, 2004 is clarificatory. It notes the Tribunal's view that mere non-utilisation would not waive interest, alongside the competing authorities in IndSwift Laboratories and Strategic Engineering. The Madras High Court view recorded in the text is that, where credit is only taken and not utilised, no interest can be levied, because the amendment replacing "taken or utilised" with "taken and utilised" is treated as clarificatory. The Bombay High Court admitted the substantial question of law for consideration. Case-Laws Central Excise Mon, 15 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280279