Interest on reversal of cenvat credit

This query is : Resolved

Sonal (Querist)
Follow

10 July 2017 One of the clients has availed credit on input services. But not able to fully utilise the same. Now they want to reverse the input credit available. amount is around 1.40 crs. If they reverse in the books of accounts they will be able to get income tax benifit and save taxes upto 30%. but in regard to service tax return, if they reverse the same, is the interest leviable on reversal amount?

Sonal

Sonal (Querist)
Follow

10 July 2017 If yes then what is periodicity of interest?

Aashok Kumar Sharma online

Aashok Kumar Sharma online

(Expert)
Follow

01 August 2024 https://docs.google.com/document/d/1mAqPmn6xj90KFhYyuLTDHJtqZZEfzqEqddyrSgEak14/edit?usp=sharing

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

yogesh korani

Pratap Kumar De

CA Archana R

Amit Bhatkar

T E SOUNDARARAJAN

Subscribe Now

Interest on reversal of cenvat credit

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

Accountant

GST CONSULTANCY

Manager- Finance and Compliance

GST CONSULTANT

Article Assistant