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Issue ID : 107858
- 0 -

cenvat credit reversal

Date 15 Jan 2015
Replies6 Answers
Views 1523 Views
Asked By

Sir,

if cenvat credit taken on an invoice in june due to mistake same is taken in December again so now what will provision and it is also utilized.now interest is payable or not ?

6 answers
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Old Query - New Comments are closed.

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- 0
Replied on Jan 15, 2015
1.

You are to reverse the excess credit taken and service tax to that extent along with interest is payable.

- 0
Replied on Jan 15, 2015
2.

Yes sir, interest is payable for such cenvat credit wrongly availed twice and already availed/utilized.

An offence case may also be booked on detection by the department.

- 0
Replied on Jan 16, 2015
3.

i already have amount in remaining balance so will it come under utilized category or not.

- 0
Replied on Jan 16, 2015
4.

like amount of credit taken is 10,000 and remaining balance in part 2 is 2 Lac

- 0
Replied on Jan 16, 2015
5.

Sir,

In your case, it will not fall under the utilization category. However, it is advisable to reverse the credit that was mistakenly availed in the month of December 2014.

- 0
Replied on Jan 17, 2015
6.

Thanks to all .

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