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TMI Blog2024 (12) TMI 1403X X X X Extracts X X X X X X X X Extracts X X X X ..... t is chargeable for the delayed period in terms of Rule 14 of Cenvat Credit Rules, 2004? - HELD THAT:- From the plain reading of Rule 14, it can be seen that the interest was chargeable as per Clause 2 of Rule 14(1)(ii) only when the assessee not alone takes the credit but also utilize the same - In the present case as per the claim of the appellant they have maintained the accumulated Cenvat Cred ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... L) Shri Hardik Modh, Advocate for the Appellant Shri R K Agarwal, Superintendent (AR) for the Respondent ORDER The issue involved in the present case is whether the late reversal of Cenvat Credit attributes to the goods destroyed in fire and remission has been granted, the interest is chargeable for the delayed period in terms of Rule 14 of Cenvat Credit Rules, 2004. 2. Shri Hardik Modh learned co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s to be verified by the original authority. He also placed reliance on the following judgments:- UOI and Ors. Versus Ind-Swift Laboratories Ltd 2011 (2) TMI 6 Supreme Court M/s. National Aluminium Company Limited Versus Commissioner of Central Excise Service Tax, Bhubaneswar-I 2023 (6) TMI 368 CESTAT Kolkata Commissioner Central Excise Commissionerate, SCO No. 6, Sector 1, Rohtek Versus M/s. Grasi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... deration of the submissions made by both the sides and perusal of records. We find that during the relevant period the provision of Rule 14 reads as under:- RULE 14. Recovery of CENVAT credit wrongly taken or erroneously refunded. - (1) (i) Where the CENVAT credit has been taken wrongly but not utilised, the same shall be recovered from the manufacturer or the provider of output service, as the ca ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the same. In the present case as per the claim of the appellant they have maintained the accumulated Cenvat Credit, which is more than the Cenvat Credit which was required to be reversed. Therefore in terms of the above rule, the appellant are not required to pay the interest. This factual aspects needs to be verified by the original authority however, we hold that if it is found for the appellan ..... X X X X Extracts X X X X X X X X Extracts X X X X
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