Since, in this case the wrong utilisation of the AED (GSI) ...

Incorrect AED Credit Use in 2003: Interest Liability u/s 11AB Applies from Following Month Until Repayment.

February 18, 2015

Case Laws Central Excise AT

Since, in this case the wrong utilisation of the AED (GSI) credit pertaining to period prior to 01/04/2000 has taken place in 2003 immediately after amendment to Rule 3 (6) of the Cenvat Credit Rules, 2002, the interest liability under Section 11AB would start from 1st day of the month succeeding the month in which the wrong utilisation had taken place till the payment of wrongly utilised credit. - AT

View Source

← Previous Next →

Since, in this case the wrong utilisation of the AED (GSI) ...

Incorrect AED Credit Use in 2003: Interest Liability u/s 11AB Applies from Following Month Until Repayment.

February 18, 2015

Case Laws Central Excise AT

You may also like:

Whether accumulated credit of AED (T&TA) can be cross utilized for payment of duty relating to AED(GSI) and for payment of basic excise duty during January 2003 to May...

The AT upheld SEBI's discretion to levy interest on outstanding registration fees as per Regulation 5 of Schedule-III of Stockbrokers Regulations, 2002, which...

Duty demand u/s 11AB - AED (GSI) pertaining to the period prior to 1.4.2000 had been utilized for payment of BED and SED - Though subsection (5) added to Section 88 of...

Refund of CENVAT Credit towards AED (T&TA) credit - export of production about 92%, under bond - the encashment of AED (T&TA) credit has been correctly denied by the...

Interest on Duty - The amendment does not wipe out the existing liability to pay interest in respect of cases involving fraud, collusion, any wilful mis-statement of...

The Interest Equalisation Scheme (IES) for Pre and Post shipment Rupee Export Credit has been extended for three months beyond 30th September 2024, until 31st December...

Interest u/s 11AB - Scope of Section 11AB - The provisions of Section 11AB, inserted w.e.f. 28th September, 1996 are in the nature of penal interest and would apply...

Mandatory pre-deposit - Vires of the second proviso to Section 84 (1) of West Bengal Value Added Tax Act, 2003 - right to appeal - Mere filing of an appeal does not...

Cenvat credit on AED (T&TA) for payment of basic excise duty on clearance of the final product from the factory - the information regarding taking of cenvat credit on...

Short paid duty by firm - liability of the partners to make good such shot paid duty - joint and several liability - two / three partnership firms with common partners...

Rate of interest - for the period from 1.4.2003, the new rate of interest shall apply and not the old rate of interest - Otherwise, the entire rule becomes infructuous/otiose - AT

CENVAT Credit - Removal of capital goods - Depreciation - Deduction of 2.5% to be applied from the date of availing credit, not from the date of receiving or putting to...

Disallowance u/s 2(24)(x) r.w.s. 36(1)(va) - assessee shall within fifteen days of the close of every month pay the same to the fund such contribution and the expression...

Cenvat credit - AED (T&TA) and AED (T&TA) - just because during the period of dispute, they were not in position to utilize the AED Credit, the AED (T&TA) cannot be...

The case involves the computation of interest under section 234B for defaults in payment of advance tax. The Appellate Tribunal held that interest was correctly charged...

Quick Updates: