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    <title>Penalties, Interest under PVAT Act, CST Act and pre deposit of 25% u/s 62(5) of PVAT Act can be adjusted from excess ITC.</title>
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    <description>Excess input tax credit remaining after adjustment against output tax and, optionally, Central Sales Tax liability, must be applied against any outstanding tax, penalty or interest under the PVAT Act or the Central Sales Tax Act; that excess credit may also be used to satisfy the pre-deposit requirement for filing an appeal under the PVAT appellate provision, subject to certification by the designated ETO/Designated Officer.</description>
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      <description>Excess input tax credit remaining after adjustment against output tax and, optionally, Central Sales Tax liability, must be applied against any outstanding tax, penalty or interest under the PVAT Act or the Central Sales Tax Act; that excess credit may also be used to satisfy the pre-deposit requirement for filing an appeal under the PVAT appellate provision, subject to certification by the designated ETO/Designated Officer.</description>
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      <pubDate>Sat, 30 Apr 2011 00:00:00 +0530</pubDate>
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