https://www.taxtmi.com/caselaws?id=387812 Reversal of irregular Cenvat credit, coupled with payment of interest before issue of the show cause notice, was treated as restoring the position to one of non-availment of credit. On that basis, the demand under Rule 6(3) of the Cenvat Credit Rules, 2004 was found unsustainable because the adverse consequence of the original wrongful availment had been neutralised. The reasoning applied the earlier Modvat principle to the Cenvat regime and recognised that timely reversal removed the basis for recovery under Rule 6(3). en-us Mon, 08 Jul 2019 00:00:00 +0530 Sat, 02 Nov 2019 11:33:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387812 Reversal of irregular Cenvat credit, coupled with payment of interest before issue of the show cause notice, was treated as restoring the position to one of non-availment of credit. On that basis, the demand under Rule 6(3) of the Cenvat Credit Rules, 2004 was found unsustainable because the adverse consequence of the original wrongful availment had been neutralised. The reasoning applied the earlier Modvat principle to the Cenvat regime and recognised that timely reversal removed the basis for recovery under Rule 6(3). Case-Laws Service Tax Mon, 08 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387812