Dear All
We have a service tax liability of Rs.283568/- due date 05.12.10 but paid on 20.01.11 so we are liable to pay interest
Rs.4646/-. But my question is , Is it possible to adjust this interest in input credit ?
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Input Credit Adjustment against Interest Payable
Replies (4)
no , interest and penalty / fine should be paid in cash only,
input credit is to be used for payment taxes only.
thanks for ur reply
Is it possible to adjust any excess tax /interest paid in future
no its not possible in future too.
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