Service Tax Input Credit

This query is : Resolved 

08 December 2009 A Caompany has claimed input tax credit by mistake.

Are there any penal provisions?

What is the procedure for rectifying the mistake? A Revised return?Within what time?

08 December 2009 you can reversed service tax excess credit taken wrongly in next month with interest.

no need to go back.

08 December 2009 You can pay the correct amount in your next challan, with interest.



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