I have wrongly availed cenvat credit on input services and utilised for period from June 2013 onwards,Auditors are insist to us to pay interest. so please confirm interest applicable o not. if applicable then what is the interest rate.is it 13% or 18%.
01 December 2015
It's gonna be 15% after taking in to the account of concession 3% otherwise it would be 18% for the service providers whose turnover is more than of ₹ 60 Lakhs.
CAclubindia
