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Central Excise - Highlights / Catch Notes

Home Highlights April 2019 Year 2019 This

Liability of interest on reversal of irregular CENVAT Credit, ...


Interest on Reversed Irregular CENVAT Credit Applies Prospectively, Not Retrospectively, per Amended Rule 14 of Cenvat Credit Rules.

April 30, 2019

Case Laws     Central Excise     HC

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 Credit Rules, 2004, would apply only with prospective effect and not with retrospective effect. - Liability of interest confirmed.

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