100% Credit availed in ER-1 of Capital Goods

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..... Dear Sir We have wrongly taken shown the 100% capital goods credit in ER-1 return for the month of june-2012 Kindly suggest whether we need to pay interest how much is it. Thanks Prashan .....

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..... t - Reply By JAMES PG - The Reply = You have to reverse the credit of 50% and pay interest @18% from the date of taking credit till date of reversal - Reply By Pradeep Khatri - The Reply = No need .....

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..... to pay the interest if you had availed the CENVAT credit but not utilised. This aspect has been clarified in the Budget 2012. - 100% Credit availed in ER-1 of Capital Goods - Query Started By: - P .....

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..... rashant patra Dated:- 25-7-2012 Central Excise - Got 2 Replies - Central Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagement .....

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..... india - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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