https://www.taxtmi.com/caselaws?id=32921 Service tax credit taken one month before payment of tax on input service was held to be premature under the timing requirement, but the lapse was only procedural because the credit was otherwise admissible in the subsequent period. On that basis, denial of the entire credit was not justified. Interest was payable for the intervening period because the credit had been taken and utilised before the permitted time. The facts did not warrant penalty, so penalty was set aside. en-us Thu, 28 Feb 2008 00:00:00 +0530 Sat, 11 Apr 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32921 Service tax credit taken one month before payment of tax on input service was held to be premature under the timing requirement, but the lapse was only procedural because the credit was otherwise admissible in the subsequent period. On that basis, denial of the entire credit was not justified. Interest was payable for the intervening period because the credit had been taken and utilised before the permitted time. The facts did not warrant penalty, so penalty was set aside. Case-Laws Service Tax Thu, 28 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32921