100% Credit availed in ER-1 of Capital Goods

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 100% Credit availed in ER-1 of Capital Goods
Query (Issue) Started By: - Prashant patra Dated:- 25-7-2012 Last Reply Date:- 30-7-2012 Central Excise
Got 2 Replies
Central Excise
Dear Sir .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 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 JAM .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ES 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 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

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

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X