Thursday 22 August 2013

Cenvat credit Rule 6 doesn't apply to transactions not amounting to service

ST/ECJ: A transaction, which is outside scope of service tax (i.e., not a service), cannot form part of proportion used for seeking reversal of Cenvat Credit under Rule 6 of CENVAT Credit Rules, 2004; however, value of exempted service would form part of such proportion


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