Interest Payable Only from Date of Wrong CENVAT Credit Utilization: CESTAT Chennai

Steel Authority of India Ltd. Vs Commissioner of GST & Central Excise (CESTAT Chennai) The Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) in Chennai addressed an appeal by Steel Authority of India Ltd. (SAIL) against an order concerning the irregular availment of CENVAT credit. SAIL, a manufacturer of steel products, had inadvertently taken double credit and excess credit on certain invoices, totaling ₹5,37,442, during April 2010 to March 2011. Upon detection during a departmental audit, SAIL reversed the excess credit before a Show Cause Notice (SCN) was issued. Subsequent...