I have availed cenvat credit on raw material but i have not utilised the same, how can i reverse the cenvat and show in my excise return. plz answer urgently.
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Want to reverse cenvat availed but not utilised
Replies (1)
You may have to file a revised return. Also there is no penalty on as supreme court in the landmark judgement of Ind Swift Labs (2011-TIOL-21-SC-CX) held that “interest is payable from the date of taking credit, not utilizing it” .
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