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Mistakenly cenvat credit availed, Central Excise

Issue Id: - 107633
Dated: 27-11-2014
By:- RAM SHARMA

Mistakenly cenvat credit availed

Contents

Dear Experts,We have excess cenvat credit in our books. We have reversed cenvat credit which is wrongly taken by us. Whether we will be liable to pay interest on reversed cenvat credit. Please advice.Thanks&Regards

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Showing Replies 1 to 1 of 1 Records

Page: 1

1 Dated: 27-11-2014
By:- Naveed S

Sir,

From 17.03.2012 onwards, if cenvat credit is availed but not utilized, then there is no need to pay any interest thereon.

Hence, if excess cenvat credit balance was available in the books of accounts from the time the credit was availed till the time it was reversed, then no need to pay interest.

Page: 1