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2015 (5) TMI 533 - AT - Service TaxWaiver of pre deposit - Eligibility of a manufacturer availing CENVAT credit of input services - Trading activity - Held that:- appellant shall be liable to pay interest on the amount of irregular credit availed during the period from October 2006 to March 2008 and have to reverse proportionate CENVAT credit proportionate to the trading turnover up to March 2011. The data given by the appellant for this period has been accepted and accordingly the appellants have calculated the proportionate credit payable as ₹ 9,26,481/- and balance payable is ₹ 6,09,728/- if the entire trading value is taken for the purpose of calculation. In our opinion, prima facie the entire trading value has to be taken. In view of the above discussion, the appellant is directed to deposit the interest amount on the CENVAT credit irregularly availed during the period up to March 2008 and balance of proportionate credit and interest for the period from April 2008 to March 2011 within eight weeks - Partial stay granted.
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