Wrongly availed cenvat credit of input services
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 September 2016
wrongly availed cenvat credit of input services but not utilized of input credit services whether in audit service tax department deduct wrongly availment of cenvat credit .whether i have to pay interest and reversal of cenvat credit also.please reply this answer,
24 September 2016
Pursuant to Rule 14 of the Credit Rules 2004, if the Assessee has wrongly taken Cenvat credit but has not utilized the same, then interest is not leviable, however Assessee has to be reverse the Cenvat credit which was wrongly taken. However, in case of Cenvat credit wrongly taken and the same is utilized then such case Cenvat credit should be reversed along with interest.
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
- Difference between Date of Payment and Date of Deduction?
- ITDS U/S.194T of Firm
- Unregistered suppliers utility
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Non-Compliance documents have not been submitted by the contractors debited
- EXPORT COMMERCIAL INVOICE HSN CODE
- GST Rate for Catering Services
- FCRA 6 E- Intimation
- NRI starting business in India
- The TDS balance for March 26 shows a mismatch between the books and the portal; what should be done
- Filling ITR - U
- Form 140 tds
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
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
