Wrong availment of cenvat credit

Dear Mr.Dipesh,

You need to pay interest @ 24% per year for that wrong credit.

Regards

RP Ananthakumar

As per the amendment in Rule 14 of Cenvat Credit Rules, 2004 vide N/N-18/2012 w.e.f. 01-04-2012,  the wrong credit along with interest is recoverable only if the credit has been taken AND utilized wrongly. So, if the wrong credit has been availed but not utilized, no need to pay interest. 

RP Sir Please confirm the answer for the Manoj sir post.