https://www.taxtmi.com/caselaws?id=764414 CESTAT Kolkata allowed the appeal, setting aside the demand for recovery of CENVAT credit of Rs. 1,35,91,278 along with interest and penalty. The appellant had paid service tax under reverse charge mechanism for GTA services within due dates and properly disclosed the credit in returns. The tribunal held that credit availment without payment allegation was unsustainable as payment was made timely. Following Supreme Court precedent in Ind-Swift Laboratories, no interest was payable since the credit was not utilized before payment. The penalty was also set aside as no irregularity existed in credit availment. en-us Wed, 08 Jan 2025 00:00:00 +0530 Fri, 10 Jan 2025 08:57:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764414 CESTAT Kolkata allowed the appeal, setting aside the demand for recovery of CENVAT credit of Rs. 1,35,91,278 along with interest and penalty. The appellant had paid service tax under reverse charge mechanism for GTA services within due dates and properly disclosed the credit in returns. The tribunal held that credit availment without payment allegation was unsustainable as payment was made timely. Following Supreme Court precedent in Ind-Swift Laboratories, no interest was payable since the credit was not utilized before payment. The penalty was also set aside as no irregularity existed in credit availment. Case-Laws Central Excise Wed, 08 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764414