https://www.taxtmi.com/caselaws?id=779823 CESTAT held that appellants had availed and utilized Cenvat credit in excess of the 20% cap and must repay the excess with interest; for periods prior to 01.04.2008 liability is limited to interest. Trading activity cannot be treated as an exempted service for the relevant periods, so appellants must reverse proportionate credit for trading turnover with interest. Penalty is restricted to the proportionate credit required to be reversed. The matter is remanded to the original authority solely to compute the recoverable credit, interest and applicable penalty. en-us Fri, 10 Oct 2025 00:00:00 +0530 Tue, 14 Oct 2025 09:39:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779823 CESTAT held that appellants had availed and utilized Cenvat credit in excess of the 20% cap and must repay the excess with interest; for periods prior to 01.04.2008 liability is limited to interest. Trading activity cannot be treated as an exempted service for the relevant periods, so appellants must reverse proportionate credit for trading turnover with interest. Penalty is restricted to the proportionate credit required to be reversed. The matter is remanded to the original authority solely to compute the recoverable credit, interest and applicable penalty. Case-Laws Service Tax Fri, 10 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779823