Interest on Scrap
This query is : Resolved
CA. Ashutosh Dadhich
(Querist)
03 December 2010
Dear sir,
we have imported some material in last year and availed CENVAT but now we have to scrap this material. we have reveresd CENVAT but we have doubt that whether we have to pay interest on this amount or not.
pls. provide any lawful backup for this.
thanx
we have imported some material in last year and availed CENVAT but now we have to scrap this material. we have reveresd CENVAT but we have doubt that whether we have to pay interest on this amount or not.
pls. provide any lawful backup for this.
thanx
Rajesh Kumar
(Expert)
04 December 2010
No interest is required to be paid.
CA. Ashutosh Dadhich
(Querist)
04 December 2010
Thanx for ur opinion but Can u pls. provide any backup for this opinion cos one of my frend says we have to pay interest on it.
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