https://www.taxtmi.com/caselaws?id=280279 Interest on wrongly taken but unutilised Cenvat credit remains an unresolved legal issue where Rule 14 was amended from "taken or utilised" to "taken and utilised". One view, relying on IndSwift Laboratories, treats non-utilisation as insufficient to avoid interest, while the contrary view in Strategic Engineering treats the amendment as clarificatory and excludes interest absent utilisation. The substantial question concerns whether the amended wording operates merely to clarify the original rule and whether interest is consequently leviable on credit taken but not used. No final determination of interest liability is recorded. 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 Interest on wrongly taken but unutilised Cenvat credit remains an unresolved legal issue where Rule 14 was amended from "taken or utilised" to "taken and utilised". One view, relying on IndSwift Laboratories, treats non-utilisation as insufficient to avoid interest, while the contrary view in Strategic Engineering treats the amendment as clarificatory and excludes interest absent utilisation. The substantial question concerns whether the amended wording operates merely to clarify the original rule and whether interest is consequently leviable on credit taken but not used. No final determination of interest liability is recorded. Case-Laws Central Excise Mon, 15 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280279