Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Service Tax - Highlights / Catch Notes

Home Highlights July 2014 Year 2014 This

Reversal of wrongly taken credit done - whether interest is ...


Court Rules No Interest on Wrongly Taken Credit Before Reversal; Demand for Interest Set Aside.

July 24, 2014

Case Laws     Service Tax     AT

Reversal of wrongly taken credit done - whether interest is chargeable from the date when it was taken upto the date of its reversal - demand of interest set aside - AT

View Source

 


 

You may also like:

  1. Levy of interest - Cenvat credit availed wrongly - In the Rule it is clearly provided that whether the credit is taken or utilized the interest will be chargeable. In...

  2. There is no difference between the expression credit taken and the credit utilised for the purpose of recovery of wrongly availed credit Rule 14 of Cenvat Credit Rules,...

  3. Service tax demand on Goods Transport Agency (GTA) services rendered on reverse charge basis set aside as appellant did not collect service tax from service recipient....

  4. Re-credit of Cenvat Credit alrady reversed (suo motu) - When the reversal/adjustment is made under Rule 6(3A), the time-limit as prescribed in the Cenvat Credit Rules,...

  5. Recovery of interest and imposition of penalty under Sections 77 & 78 is justified - Rule 14(1)(i) of CENVAT Credit Rules, 2004 provides that where the CENVAT Credit had...

  6. Levy of interest and penalty - transition of amount wrongly claimed as input tax credit under the CENVAT Credit Rules, 2004 - The court confirmed that the petitioner was...

  7. Demand of Interest and penalty - it is hard to say that the reversal of CENVAT Credit under Rule 3(5) by the appellant of the proportionate amount of credit taken on the...

  8. Demand of interest on reversal of cenvat credit - reversal of credit against refund claim where the service tax was paid wrongly - provisions of Rule 14 of CENVAT...

  9. The petitioner challenged the levy of interest and penalty for wrongly availing and utilizing Input Tax Credit (ITC). The court held that unless ITC is wrongfully...

  10. The CESTAT held that the demand of Rs.80,61,111/- (including Education Cess and Secondary and Higher Education Cess) raised on the ground of difference between the...

  11. Reversal of Credit availed but not utilized - penalty waived but demand of interest confirmed - HC

  12. Proportionate reversal of credit in respect of common input service in terms of Rule 6(3A)(a) of Cenvat Credit Rules, 2004 - It is seen that even prior to Rule 6 (3AA)...

  13. The CESTAT disposed of the appeal with the following key holdings: Undervaluation relating to stock transfer to their own unit and sale to sister unit was held not...

  14. Non-payment of service tax on the input services - removal of input as such from the factory - requirement of reversal of CENVAT Credit as per the provisions of sub-rule...

  15. Reversal of CENVAT credit u/r 6(3A)(c)(iii) of the CENVAT Credit Rules, 2004. It clarifies that the term 'total CENVAT credit taken' used in the provision is unambiguous...

 

Quick Updates:Latest Updates