Tuesday 7 January 2014

Assessee isn’t entitled to seek credit of input services used for trading purposes

Cenvat Credit : A dealer of motor vehicle is not entitled to credit of rent paid for building used for trading purposes; but, in case of services used for both trading activity and taxable services, reversal of credit may be sought on pro rata basis in ratio of value of two activities or on some other just, fair and equitable basis


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