Reversal amount under rule 6

[Laxmaiah Vanamamula]

Sir,

Please clarify now Reversal amount under rule 6 of CCR Rules rate is now 6% for 7% as on date 01.06.2015.

Thanking you

V.Laxmaiah

[bhart b sharma]

Rule 6(3) provides for reversal @6% in case of goods, viz., inputs and 7% in case of services (input services utilized for providing output service or used in the manufacturing activity).

bharat b sharma

9953801552

AI Summary

Rule 6 Cenvat Credit: 6% Reversal for Goods, 7% for Services as of June 1, 2015. A participant in a discussion forum inquired about the reversal amount under Rule 6 of the Cenvat Credit Rules, questioning whether the rate was 6% or 7% as of June 1, 2015. The response clarified that Rule 6(3) specifies a 6% reversal rate for goods, such as inputs, and a 7% rate for services, which include input services used for providing output services or in manufacturing activities.