penelty
This query is : Resolved
26 September 2010
hi to all
mr x steel is denied the benefit of a notification under which excise duty exemption is granted to steel rod manufactures (subject to monetary limit) if cenvat credit odgf duty paid on input is taken.x steel erronously took cenvat credit on input first, but prior to utilization ,reversed the same. is the action of department justified ? can penaltybe levied? reply please , thanx
mr x steel is denied the benefit of a notification under which excise duty exemption is granted to steel rod manufactures (subject to monetary limit) if cenvat credit odgf duty paid on input is taken.x steel erronously took cenvat credit on input first, but prior to utilization ,reversed the same. is the action of department justified ? can penaltybe levied? reply please , thanx
27 September 2010
No penalty can be lavied if credit has not been utilised. If you have recd. any letter etc from the deptt. share it with me then I may advise accordingly.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- Type of Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- LIABILITY ADJUSTMENT
- Average Cost Of High Quality Diamonds
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
