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Wrongly credit taken on service tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 May 2013 Dear expert,
we have wrongly credit taken on additional duty of custom u/s 3(5) in service tax liability for last two years. now we want to reverse the credit already taken by paying the amount. whether there is penalty liability also arise for wrongly credit taken.
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RAMESH KUMAR VERMA

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RAMESH KUMAR VERMA (Expert)
03 June 2013 if you wrongly credited the custom duty last 2 year please submit the duty along with interest.

yes penalty attract in this case,

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