Reversal of wrongly taken cenvat on cement
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 September 2010
I have taken cenvat of excise of cement as a capital goods in service tax but after 1 year I know that it is wrong.
My question is:
Whether i can simply reverse above cenvat by utilising other cenvat
or
It would have to be reverse by payment only ??
My question is:
Whether i can simply reverse above cenvat by utilising other cenvat
or
It would have to be reverse by payment only ??
07 September 2010
You can rectify your mistake by reversal of Cenvat to the extent earlier taken by u and no need to pay through PLA. However, check up whether at any time the balance in cenvat gone below the amt of cedit wrongly taken.
In any case, u are required to pay the Interest @ 13% p.a. for the period from the date the credit is taken to the reversal. This Interest is necessarily to be paid through TR- 6 challan.
In any case, u are required to pay the Interest @ 13% p.a. for the period from the date the credit is taken to the reversal. This Interest is necessarily to be paid through TR- 6 challan.
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
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Treatment of Pension ?annuity returns on PMVY
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Free lancer income
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- STCG FOR GOLD ETFs
- Last year TDS Claim
- Soyabean hsn code and gst rate
- NON- SUBMISSION OF LLP FORM 3
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
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
