Home Highlights February 2014 Year 2014 This

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1. Levy of Interest and penalty - reversal of transitional credit - no records to show utilization of such credit - invocation of Section 74 of the TNGST Act, 2017,...

2. The petitioner challenged the levy of interest and penalty for wrongly availing and utilizing Input Tax Credit (ITC). The court held that unless ITC is wrongfully...

3. Reversal of CENVAT Credit - damage of raw material - demand invoking extended period of limitation confirmed - HC

4. Levy of interest and penalty - Reversal of CENVAT Credit (without utilization) on being pointed out, before issuance of SCN - period from January, 2005 to March, 2007 -...

5. Demand of interest and penalty - reversal of CENVAT credit prior to issuance of SCN - Rule 14 of the Cenvat Credit Rules the provisions of which were amended to change...

6. Levy of interest - Cenvat credit availed wrongly - In the Rule it is clearly provided that whether the credit is taken or utilized the interest will be chargeable. In...

7. Demand of Interest - the said credit so availed by the appellant remained only a paper entry and was not utilized by them, inasmuch as there was no scope of utilization,...

8. Interest on reversal of cenvat credit - Wherever Cenvat credit has been availed but not utilized, the interest need not be paid but it has to be paid in cases where the...

9. Levy of interest on reversal of CENVAT Credit - Credit taken but not utilized till reversal - subsequent amendment has given befitting answer to all doubts existed...

10. Interest on irregular CENVAT Credit availed but not utilized - The appellant though have taken credit irregularly or wrongly in the books it was never utilized. So, it...

11. Demand of Interest - CENVAT Credit - reversed the CENVAT credit wrongly availed much before the issuance of the show-cause notice - the CENVAT credit account which shows...

12. Cenvat credit on capital goods - No credit was availed in the initial (first) year - Whole of the credit (100% credit) was availed in the subsequent year - There is...

13. Wrongful transfer of credit attributable to all units by the Input Service Distributor (ISD) exclusively to the respondent, contravening the second proviso to Rule 3(4)...

14. Liability of interest on reversal of irregular CENVAT Credit, before the amendment to Rule 14 - credit availed but not utilized - The amendment to Rule 14 of the Cenvat...

15. Cenvat credit - Once the credit is availed, the use of such credit is governed by Rule 3 of the Cenvat Credit Rules, 2004. Sub-Rule (4) of the said Rule stipulates that...