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2015 (11) TMI 1604 - CESTAT NEW DELHI

2015 (11) TMI 1604 - CESTAT NEW DELHI - TMI - Recovery of interest under Section 75 of the Finance Act - imposition of penalty under Rule 7(C) of the Service Tax Rules, 1994 - payment of interest for delayed reversal of cenvat credit - Held that: - the credit taken inadvertently has not been utilized by the appellant for payment of service tax on the output services. In absence of non utilization of the irregularly availed cenvat credit, the same will be construed as a mere book entry, for which .....

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of the Service Tax Rules, 1994 to the effect that filing of revised return should be considered as the date of filing of return for determination of the quantum of penalty. Considering the fact that penalty has been levied under Rule 7(C), I am of the view that imposition of penalty amount again under Section 77 of the Act is not proper and justified. - Appeal allowed - decided partly in favor of appellant. - Service Tax Appeal No. ST/52114/2015-ST[SM] - Final Order No.54200/2015 - Dated:- .....

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t been utilized by the appellant for payment of service tax for providing the output service. Thus, according to the Ld. Advocate, since the cenvat credit taken irregularly has not been utilized for payment of service tax, the same merely to be considered as a book entry, for which there is no loss of Revenue to the Government exchequer. It is his submission that interest is compensatory in character and the same is required to be paid, only when there is delayed payment of the principal amount. .....

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Ld. Advocate further submits that since the return was originally filed in the month of June and due to some problem in the computer, the said return was not accepted on the date of filing and subsequently accepted in the month of September, penalty prescribed in Rule 7(C) of the Service Tax Rules, 1994 will have no application. 4. Per contra, Mrs. Kanu Verma Kumar, the Ld. DR reiterates the findings recorded in the impugned order and further submits that return filed in the month of September s .....

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