2016 (12) TMI 724

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..... show cause notice was issued to demand interest from the appellant - Held that: - we find that interest can be demanded under Section 11AB of the Act and the provisions of Section provides that the interest was charged from the first day of succeeding the month in which duty ought to have been paid. Admittedly, the reversal of cenvat credit was done on the last day of the month. In that circumstan .....

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..... of the Revenue is that in case of the inputs are cleared as such, the reversal of the Cenvat Credit should be on the consignment basis and not on the last day of the month, this facility for payment of duty on last of the month is in respect of manufactured goods. A show cause notice was issued to demand interest from the appellant. The matter was adjudicated. The adjudicating authority dropped t .....

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..... bmissions made by both the sides, we find that interest can be demanded under Section 11AB of the Act and the provisions of Section provides that the interest was charged from the first day of succeeding the month in which duty ought to have been paid. Admittedly, the reversal of cenvat credit was done on the last day of the month. In that circumstances, we hold that the provisions of Section 11AB .....

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