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Interest on Scrap

This query is : Resolved 
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(Querist)
03 December 2010 Dear sir,

we have imported some material in last year and availed CENVAT but now we have to scrap this material. we have reveresd CENVAT but we have doubt that whether we have to pay interest on this amount or not.

pls. provide any lawful backup for this.

thanx
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Rajesh Kumar

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Rajesh Kumar (Expert)
04 December 2010 No interest is required to be paid.
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CA. Ashutosh Dadhich

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CA. Ashutosh Dadhich (Querist)
04 December 2010 Thanx for ur opinion but Can u pls. provide any backup for this opinion cos one of my frend says we have to pay interest on it.
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