Thursday, 1 January 2015

Formula prescribed in rule 6(3A) uses the term 'total credit' and not 'common credit'

Cenvat Credit : Formula in rule 6(3A) of CENVAT Credit Rules, 2004 uses 'total credit taken' and not 'common credit'; hence, while making reversal, total credit (including that relating exclusively to taxable goods/services) will be used


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