No Interest liability arises on Merely availed CENVAT credit and reversed before utilizing for remittance of Excise duty: CESTAT [Read Order]

By Shabna Rahim - On November 30, 2023 4:30 pm - 2 mins read
Remittance of Excise duty - Excise duty - reversed before utilizing - utilizing for remittance of Excise duty - Interest liability arises on Merely availed CENVAT credit - TAXSCAN

The Chennai bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) held that the interest liability cannot be raised on merely availed CENVAT credit and reversed before the utilization for remittance of excise duty.  Mobis India Ltd, the appellant assessee was a manufacturer of Motor Vehicle Parts and is availing CENVAT Credit of…

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