If Assessee opted the Value based exemption (SSI Notification Under 8/2003)..but after he also book CCR on Input n Also take Credit for the for clearance...What r the cosequences..Is there is any Penal provision?? Plz mantion seprately with Relevant SEction...thnx
1 Replies
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 25 June 2012
if the assesee is paying duty on his clearances without availing SSI benefit from the begining of the year, then no much hardship would arise.
if he is availing both simaltenously, then the whole duty input credit would be reversed and department will initiate the case of fraud on the party.
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