Monday 2 December 2013

Credits wrongly utilized to be demanded in cash with interest but wrong utilization must be allowed

Excise & Customs : If, owing to default in paying duty, assessee's facility of monthly payment of duty is withdrawn and even then, assessee pays duty using Cenvat credit, assessee can be asked to pay duty in cash/through PLA with interest and penalty, but, credit earlier utilized must be allowed as re-credit


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