https://www.taxtmi.com/caselaws?id=443089 Accumulated CENVAT credit of Education Cess and Secondary and Higher Education Cess lying unutilised on 28.02.2015 was held to remain utilisable for payment of Central Excise duty after 01.03.2015, because Notification No. 12/2015-CE(NT) amended the credit rules without expressly providing for lapsing of the balance credit. The Tribunal treated the credit as an accrued benefit, noted the absence of any clear statutory prohibition or lapsing mechanism, and held that the resulting demand was not sustainable; interest and penalty were also set aside, with penalty found unwarranted in light of the interpretative nature of the issue. en-us Wed, 06 Sep 2023 00:00:00 +0530 Sat, 16 Sep 2023 08:44:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443089 Accumulated CENVAT credit of Education Cess and Secondary and Higher Education Cess lying unutilised on 28.02.2015 was held to remain utilisable for payment of Central Excise duty after 01.03.2015, because Notification No. 12/2015-CE(NT) amended the credit rules without expressly providing for lapsing of the balance credit. The Tribunal treated the credit as an accrued benefit, noted the absence of any clear statutory prohibition or lapsing mechanism, and held that the resulting demand was not sustainable; interest and penalty were also set aside, with penalty found unwarranted in light of the interpretative nature of the issue. Case-Laws Central Excise Wed, 06 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443089