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cenvat credit reversal - rule 6 3 (4a)?
hello everyone. any views on below are appreciable. i am asked by service tax dept to pay interest on reversal of cenvat Rule 6 3(4a) credit month wise. my opinion is that the interest is payable only after June-30. does any one has any view on above. i will elaborate the case to any one of you if needed.
to holly and other . i went on the given site but there is no help on the matter or i am missing some thing
i have checked the cbec and other law books on the matter. i am convinced that the interest liablity aries only after june-30. any one specifically can explain liablity on rule 6(3) A . will be thankfull
4 Answers
- SANTOSH KUMARLv 61 decade agoFavourite answer
Interest is payable from the due date according to status of assessee. Service Tax staff often give instructions verbly ask them to make demand in writing. and if they demand in writing make reply refering provision contained in rule 6. For detail text of rule 6, visit website www.cbec.gov.in
- Anonymous5 years ago
I like the technique of cross multiply. 4*4a =3*6 a=18/16
- 1 decade ago
Service Tax is deposit on 5th of every month (tax should be deposit on 5.7.2010 if you are depositing service tax for the month of June) after consideration of cenvat and interest will paid on monthly basis only. Ask for circular from service tax deptt. to this effect.so that your doubt will be cleared.
- 1 decade ago
Kindly clarify the transaction then only I can help you...
whether the credit is reversed by you ? or
whether there is late payment of service tax ? or
otherwise ...
