Utilisation of ccr
This query is : Resolved
02 April 2013
mine query is regarding service tax ....can we use adjust our liability of interest and penalty under service tax against our input cenvat credit? please do ans along with relevant section and cases if any..thanks.
02 April 2013
No, Cenvat cannot be utilised for payment of Interest or Penalty. They have to paid in cash. It is a settled law. Read Rule 3(4) of CCR, 2004.
03 April 2013
MR.Ashish Vaish i cordially accept ur ans ...i have been through rule 3(4) but still couldnt sort out regarding the matter of intt and penalty ..wil be thankful if u could futher clearify me regarding this ..any link if such will be really helpful.
03 April 2013
Dear Mr Bikas,
Rule 3(4) of CCR, 2004 specifies all the purposes for which cenvat can be utilised. It no where specifies that it can be used for payment of Interest or Penalty therefore it can not be used for the same. It is well settled principle by various courts in series of judgements.
Rule 3(4) of CCR, 2004 specifies all the purposes for which cenvat can be utilised. It no where specifies that it can be used for payment of Interest or Penalty therefore it can not be used for the same. It is well settled principle by various courts in series of judgements.
03 April 2013
thnx for your help..hopefully we will get in touch regarding further issues in indirect tax in upcoming days..have nice time.
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