https://www.taxtmi.com/caselaws?id=763823 Rule 14 of the Cenvat Credit Rules, 2004 distinguishes between credit wrongly taken but not utilised and credit wrongly taken and utilised. Interest is attracted only in the latter situation, so delayed reversal does not by itself create interest liability. On the stated facts, if the assessee had not utilised the credit and had maintained a Cenvat balance equal to or above the amount to be reversed, no interest would be payable. The factual question whether the credit was actually utilised and whether sufficient balance existed required verification by the original authority. en-us Wed, 04 Dec 2024 00:00:00 +0530 Mon, 30 Dec 2024 08:39:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763823 Rule 14 of the Cenvat Credit Rules, 2004 distinguishes between credit wrongly taken but not utilised and credit wrongly taken and utilised. Interest is attracted only in the latter situation, so delayed reversal does not by itself create interest liability. On the stated facts, if the assessee had not utilised the credit and had maintained a Cenvat balance equal to or above the amount to be reversed, no interest would be payable. The factual question whether the credit was actually utilised and whether sufficient balance existed required verification by the original authority. Case-Laws Central Excise Wed, 04 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763823