Is intrest liable on unutilised cenvat amount
This query is : Resolved
29 December 2008
Hi sirs
we have taken cenvat credit on CTD bar & cement on March 2007 & reversed same on March 2008 without paying intrest.
Note: we had maintained credit balance for reversed amount till date of reversal.
please reply us.
Is intrest is liable on us for said matter.
we have taken cenvat credit on CTD bar & cement on March 2007 & reversed same on March 2008 without paying intrest.
Note: we had maintained credit balance for reversed amount till date of reversal.
please reply us.
Is intrest is liable on us for said matter.
15 January 2009
No interest is chargeable if credit is not utilised, there are many decision from Tribunal.
But deptt. generally objects to that and demand interest.
But deptt. generally objects to that and demand interest.
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