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
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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