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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Clarification on Rule 3(5): Service Tax Credit Limited to 35% Without Separate Accounts for Mixed Services.</h1> A circular dated March 10, 2004, addresses the ambiguity in Rule 3(5) of the Service Tax Credit Rules, 2002. It clarifies that if a service provider does not maintain separate accounts for input services used in both taxable and exempt/non-taxable services, they can only use service tax credit for up to 35% of the total service tax payable on taxable output services. Field formations are to be informed, and a trade notice should be issued. This circular was later rescinded by another circular dated May 10, 2007. A Hindi version will be provided.
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