No Allegation indicating CENVAT Credit Availment w/o Service Tax Payment under RCM: CESTAT relieves Hyundai of Rs. 63 Lakh Penalty [Read Order]

The crux of the case pertained to supposed availment of CENVAT Credit on service tax for the import of services before actual payment of the service tax due
By Avinash Kurungot - On November 4, 2024 3:07 pm - 2 mins read
CESTAT - CESTAT Chennai - CENVAT Credit - RCM - Central Value Added Tax - Hyundai - Hyundai Engineering - Reverse Charge Basis - Service Tax Payment - taxscan

The Customs, Excise And Service Tax Appellate Tribunal ( CESTAT ), Chennai recently quashed a penalty of Rs.63 Lakhs against Hyundai Engineering, levied on the availment of Central Value Added Tax ( CENVAT ) credit without due payment of the service tax under Reverse Charge Basis. The decision was given by CESTAT while adjudicating a…

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