Content Provider | Supreme Court of India |
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e-ISSN | 30484839 |
Language | English |
Access Restriction | NDLI |
Subject Keyword | Finance Act Central Excise Rules |
Content Type | Text |
Resource Type | Law Judgement |
Jurisdiction | India |
Case Type | Appeal |
Court | Supreme Court of India |
Disposal Nature | Appeal Allowed |
Headnote | MODVAT- Finance Act, 2000- s.112 - Central Excise Rules, 1944 7 rr. 57(1), 57A, 578 - Respondent-assessee availed MODVAT credit on HSD oil used as an input though it was not permissible - Amount wrongly availed by respondents by way of MODVAT credit recovered by the Revenue with interest thereon - Recovery of wrongfully availed MODVAT credit with interest - Justification - Held: By virtue of s. 112 of the _2000 Act, if anybody had wrongfully availed MODVAT credit on the HSD oil used as an input, it was to return such amount within 30 days and in case the amount was not refunded within 30 days, the amount had to be returned with interest at the rate of 24% p.a. - On facts, the respondent-assessee did not return the wrongfully availed MODVAT credit even within 30 days, and thus, was required to return the same with interest at the rate of 24% p.a. - Such a course, adopted by the Revenue for recovery of the amount was legitimate - Central Excise Tariff Act, 1985 - Chapters 52, 54 & 55 of the Schedule. |
Judge | Hon'ble Mr. Justice Anil R. Dave |
Neutral Citation | 2013 INSC 845 |
Petitioner | Union Of India & Ors. |
Respondent | Maharaja Shree Umaid Mills |
SCR | [2013] 17 S.C.R. 271 |
Judgement Date | 2013-12-17 |
Case Number | 5634 |
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