Service tax cenvat credit

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 April 2015 Dear all
in first half yearly ST return. mistakenly i have taken excess cenvat credit in FY 2014-15. please let me know can i adjust that excess cenvat credit in secould half yearly return...

please reply...

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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20 April 2015 The credit so availed wrongly/irregularly is required to be reversed along with interest in terms of the provisions of Rule 14 of the Cenvat Credit Rules, 2004, read with Section 11A, 11AA of the Central Excise Act, 1944. They are also liable to pay penalty at the rate of 1% percent per month in terms of the provisions of Section 11A (6) of the Central Excise Act, 1944, in respect of wrongly availed credit after 01.4.2011.
It can be reversed in second quarter return.

Querist : Anonymous

Querist : Anonymous (Querist)

21 April 2015 Dear sir
actually even i am not sure about the wrong cenvat credit in FY 2014-15. let me elaborate the following Query.
i have raised the first bill of my service on 17/5/2014 and before this date i have paid service tax on some expenses like telephone bill, restaurant bill for service purpose.
please tell me whether this ST paid on expenses can be availed before issuing my service invoice or not...

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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21 April 2015 If you have availed the service for providing the out put service(on 17/5/2014) then cenvat credit for those services can be availed against the invoice.

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