100% Credit availed in ER-1 of Capital Goods

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....00% Credit availed in ER-1 of Capital Goods<br> Query (Issue) Started By: - Prashant patra Dated:- 25-7-2012 Last Reply Date:- 30-7-2012 Central Excise<br>Got 2 Replies<br>Central Excise<br>Dear Sir ....

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....We have wrongly taken & shown the 100% capital goods credit in ER-1 return for the month of june-2012 Kindly suggest whether we need to pay interest & how much is it. Thanks Prashant Reply By JAME....

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....S PG: The Reply: You have to reverse the credit of 50% and pay interest @18% from the date of taking credit till date of reversal Reply By Pradeep Khatri: The Reply: No need to pay the interest if ....

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....you had availed the CENVAT credit but not utilised. This aspect has been clarified in the Budget 2012.<br> Discussion Forum - Knowledge Sharing ....