Interest and penalty

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Querist : Anonymous

Querist : Anonymous (Querist)

19 September 2016 what is interest and penalty for excess claim of service tax input.

Arun Kumar Singh (Expert)
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19 September 2016 The credit has been utilized then reverse the cenvat credit along with interest @ of 18% only.

Querist : Anonymous

Querist : Anonymous (Querist)

19 September 2016 if cenvat credit taken but not utilised .then what penalty and interest levy.

Arun Kumar Singh (Expert)
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19 September 2016 Then no need to pay interest and penalty only reversed the cenvat credit.

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