9911796707
TMI Blog2023 (10) TMI 172X X X X Extracts X X X X X X X X Extracts X X X X ..... ning to the advance paid by them. As this fact has not been disputed by either of the sides, therefore, it is concluded that the appellant has reversed the excess cenvat credit and are not liable to reverse the cenvat credit again. There is ample cenvat credit lying in the cenvat credit account, therefore, no payment of interest is required to be made by the appellant in the light of the decision of the Hon ble Karnataka High Court in the case of COMMISSIONER OF CENTRAL EXCISE SERVICE TAX LARGE TAXPAYER UNIT, BANGALORE VERSUS M/S BILL FORGE PVT LTD, BANGALORE [ 2011 (4) TMI 969 - KARNATAKA HIGH COURT ], wherein the Hon ble High Court has held that once the entry was reversed, it is as if that the Cenvat credit was not available. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ayment made by them and the cenvat credit was also taken on full amount raised by the service provider, but later on the appellant has availed less cenvat credit on the amount equivalent to the amount of cenvat credit pertaining to the advance paid by them. As this fact has not been disputed by either of the sides, therefore, it is concluded that the appellant has reversed the excess cenvat credit and are not liable to reverse the cenvat credit again. 5. Further, I found that there is ample cenvat credit lying in the cenvat credit account, therefore, no payment of interest is required to be made by the appellant in the light of the decision of the Hon ble Karnataka High Court in the case of Commissioner of Central Excise Service Tax, L ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from the date the duty was payable, which they promptly paid. The claim of the Revenue was, though the assessee has not taken or utilized this Cenvat credit, because they admitted the mistake, the assessee is liable to pay interest from the date the entry was made in the register showing the availment of credit. According to the Revenue, once tax is paid on input or input service or service rendered and a corresponding entry is made in the account books of the assessee, it amounts to taking the benefit of Cenvat credit. Therefore interest is payable from that date, though, in fact by such entry the Revenue is not put to any loss at all. When once the wrong entry was pointed out, being convinced, the assessee has promptly reversed the entry. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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