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2018 (11) TMI 976 - AT - Service TaxInterest on CENVAT Credit reversed - case of appellant is that they have had not utilized the same - Held that:- The records as verified by the Commissioner put so other wise. The Learned Counsel for the appellant also agrees that the disputed amount had been utilized therefore interest is liable to be paid on the disputed amount. Penalty u/s 78 - Held that:- It is not in dispute that the appellant had wrongly availed CENVAT credit and utilized the same and thereby evaded payment of service tax and this was noticed only in audit records by the Departmental Officers therefore penalty is liable to be imposed under Section 78 - however, the quantum of penalty reduced to 50%. Appeal allowed in part.
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