https://www.taxtmi.com/caselaws?id=391742 Reversal of Cenvat credit in the books before the GST transition, without carrying it forward as transitional credit, meant the disputed credit could not survive as an enforceable demand. The tribunal treated the pre-utilisation reversal as non-availment of credit and set aside the demand. On interest, it applied Rule 14 of the Cenvat Credit Rules, 2004 and the compensatory nature of interest, holding that interest was not payable because the credit had been reversed before utilisation and no revenue loss was established. The assessee succeeded on both demand and interest, and the penalty challenge did not survive. en-us Tue, 04 Feb 2020 00:00:00 +0530 Thu, 06 Feb 2020 08:18:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391742 Reversal of Cenvat credit in the books before the GST transition, without carrying it forward as transitional credit, meant the disputed credit could not survive as an enforceable demand. The tribunal treated the pre-utilisation reversal as non-availment of credit and set aside the demand. On interest, it applied Rule 14 of the Cenvat Credit Rules, 2004 and the compensatory nature of interest, holding that interest was not payable because the credit had been reversed before utilisation and no revenue loss was established. The assessee succeeded on both demand and interest, and the penalty challenge did not survive. Case-Laws Central Excise Tue, 04 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391742