Just a moment...
AI-powered research trained on the authentic TaxTMI database.
Launch AI Search →Powered by Weblekha - Building Scalable Websites
Press 'Enter' to add multiple search terms. Rules for Better Search
Press 'Enter' after typing page number.
Press 'Enter' after typing page number.
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
Press 'Enter' after typing page number.
Press 'Enter' after typing page number.
Don't have an account? Register Here
Press 'Enter' after typing page number.
<h1>CENVAT credit distribution: service tax credit allocated pro rata among units based on turnover and defined relevant period.</h1> Service tax credit attributable to services used by more than one unit must be distributed pro rata based on each unit's turnover during the relevant period to the total turnover of all units operational in the current year for that period. The 'relevant period' is the preceding financial year if turnover exists for that year; if turnover is unavailable for some or all units in that year, the last quarter for which turnover details of all units are available prior to the month or quarter of distribution shall be used.