https://www.taxtmi.com/caselaws?id=314453 Excess CENVAT credit reversed before utilisation was treated as a book adjustment, so the assessee could re-credit the amount without a refund claim under Section 11B of the Central Excise Act, 1944. Because the credit had not assumed the character of duty paid out of pocket and unjust enrichment did not arise, restoration of the excess reversal was allowed. Interest was not payable on credit that was taken but reversed before utilisation, as Rule 14 applies only where credit is wrongly taken and used. The assessee thus obtained re-credit of the excess amount with no interest liability on the unutilised balance. en-us Thu, 18 Jul 2019 00:00:00 +0530 Wed, 12 Jun 2024 08:18:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=314453 Excess CENVAT credit reversed before utilisation was treated as a book adjustment, so the assessee could re-credit the amount without a refund claim under Section 11B of the Central Excise Act, 1944. Because the credit had not assumed the character of duty paid out of pocket and unjust enrichment did not arise, restoration of the excess reversal was allowed. Interest was not payable on credit that was taken but reversed before utilisation, as Rule 14 applies only where credit is wrongly taken and used. The assessee thus obtained re-credit of the excess amount with no interest liability on the unutilised balance. Case-Laws Central Excise Thu, 18 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=314453