https://www.taxtmi.com/forum/issue?id=111743 Whether interest or penalty attaches when input/service tax credit is reversed before utilisation depends on two operative considerations: (1) whether reversal before utilisation constitutes credit not availed so that neither interest nor penalty is triggered, as supported by a departmental circular and referenced judgments; and (2) whether the amended textual provisions and the statutory conditions for interest and penalty nonetheless bring the reversal within interest or penalty liability. en-us Thu, 06 Apr 2017 14:30:20 +0530 Thu, 23 Jan 2025 15:55:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=111743 Whether interest or penalty attaches when input/service tax credit is reversed before utilisation depends on two operative considerations: (1) whether reversal before utilisation constitutes credit not availed so that neither interest nor penalty is triggered, as supported by a departmental circular and referenced judgments; and (2) whether the amended textual provisions and the statutory conditions for interest and penalty nonetheless bring the reversal within interest or penalty liability. Discussion-Forum Service Tax Thu, 06 Apr 2017 14:30:20 +0530 https://www.taxtmi.com/forum/issue?id=111743