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Reversal of Input Credit interest and penalty is applicable

VAT and Sales Tax - Started By: - MUNIRAJ SRINIVASAN - Dated:- 15-12-2015 Last Replied Date:- 17-12-2015 - Dear sir,My client is wrongly availed input credit of ₹ 130000 for the month of Oct 2015 but he is not utilized the credit amount but nex .....

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tter to pay interest. and for penalty if you had reversed the credit and paid interest before issue of any notice from department then no penalty is leviable. plethora of case law is available for such scenario. This is my view. - Reply By MARIAPPAN .....

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