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Interest and penalty

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 September 2016 what is interest and penalty for excess claim of service tax input.
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Arun Kumar Singh

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Arun Kumar Singh (Expert)
19 September 2016 The credit has been utilized then reverse the cenvat credit along with interest @ of 18% only.
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Querist : Anonymous

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Querist : Anonymous (Querist)
19 September 2016 if cenvat credit taken but not utilised .then what penalty and interest levy.
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Arun Kumar Singh

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Arun Kumar Singh (Expert)
19 September 2016 Then no need to pay interest and penalty only reversed the cenvat credit.
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