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of <h1>Understanding Cenvat Credit Reversal: Key Provisions Under Rule 6 for Exempted Goods and Services</h1> The the rules and conditions for the reversal and claiming of Cenvat Credit related to exempted goods and services. Rule 6(1) prohibits Cenvat Credit for inputs used in exempted goods/services, except under Rule 6(2) by maintaining separate accounts. Rule 6(3) offers options for manufacturers/service providers not maintaining separate accounts, including paying a percentage of exempted goods/services value. Rule 6(4) allows full credit on capital goods used in dutiable goods/services. Rules 6(6) and 6(6A) exempt certain services provided to Special Economic Zones from these provisions. Rule 6(8) addresses conditions under which services are not treated as exempted, focusing on foreign currency payments.
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