Penlty on servicetax

Save Share

This query is : Open

Yogesh (Querist)

13 June 2013 Dear Sir
I wand to know that 'A manufacutring company service tax input avialing of RS. 100000/- but Assessing Officer disallow service tax input of Rs.20000/- he say service tax input can not we avial on Rs. 20000/- he say deposited service tax amount with penlty and Interest so i want to know what is the penlty and intrest on Rs.20000/-

PAWAN KUMAR

PAWAN KUMAR (Expert)

13 June 2013 No penalty on this amount, if you reversed it and no interest is required to be deposited unless you utilized the subject cenvat credit.

Yogesh

Yogesh (Querist)

13 June 2013 meaning is that only Rs.20000/- will pay as service tax liablities. but we claim service tax cenvat credit on the month of June 2011 and A.O. Disallow on month April'13.

PAWAN KUMAR

PAWAN KUMAR (Expert)

14 June 2013 As you have availed the cenvat during june 2011 and reversed the same in April'2013, Interest would be charged on such reversal from june 2011 to april2013.

Yogesh

Yogesh (Querist)

17 June 2013 only Service tax department charge Intrest. No penlty on the same
What is the rate of Intrest

Yogesh

Yogesh (Querist)

18 June 2013 Thanks All of You.

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