CENVAT Credit on Capital Goods: Interest Liability Applies, No Penalty for Early Claim of 50% Credit.

CENVAT Credit on Capital Goods: Interest Liability Applies, No Penalty for Early Claim of 50% Credit. https://www.taxtmi.com/highlights?id=33925 CENVAT credit - capital goods - disallowance of Cenvat credit being 50% of the eligible credit, which was required to be taken in the subsequent year, but was taken in the 1st year itself - only the liability for interest survives, no penalty is excisable - AT en-us Thu, 23 Mar 2017 18:54:33 +0530 Thu, 23 Mar 2017 18:54:33 +0530 TaxTMI RSS Generator CENVAT Credit on Capital Goods: Interest Liability Applies, No Penalty for Early Claim of 50% Credit. https://www.taxtmi.com/highlights?id=33925 CENVAT credit - capital goods - disallowance of Cenvat credit being 50% of the eligible credit, which was required to be taken in the subsequent year, but was taken in the 1st year itself - only the liability for interest survives, no penalty is excisable - AT Highlights Central Excise Thu, 23 Mar 2017 18:54:33 +0530 https://www.taxtmi.com/highlights?id=33925