Cenvat credit rules 2004
This query is : Resolved
14 August 2011
Hello,
I want to know what's the difference between rule 14 and and rule 15(1). If both speaks about credit wrong taken or utilised? In case of. Contravetion does A.O. have freedom to apply any of the section as per his choice.?
Secondly, in which situations does the assessee is allowed to take deemed cenvat credit by central government under rule 13?
I want to know what's the difference between rule 14 and and rule 15(1). If both speaks about credit wrong taken or utilised? In case of. Contravetion does A.O. have freedom to apply any of the section as per his choice.?
Secondly, in which situations does the assessee is allowed to take deemed cenvat credit by central government under rule 13?
14 August 2011
rule 14 applicable for recovery of duty wrong ly taken credit with interest
rule 15(1) has provision of "penalty" of 100% of duty credit taken wrongly, with minimum penalty of Rs. 2000
rule 15(1) has provision of "penalty" of 100% of duty credit taken wrongly, with minimum penalty of Rs. 2000
14 August 2011
Ok. And what about my 2nd question about rule 13?
14 August 2011
I agree with the expert
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