https://www.taxtmi.com/circulars?id=103 The Circular clarifies that if a service provider does not maintain separate accounts for input services used for taxable and exempt/non-taxable outputs, input service tax credit may be utilized only up to a capped proportion - 35% - of the total service tax payable on all taxable output services; field formations are to be informed and a trade notice issued. en-us Wed, 10 Mar 2004 00:00:00 +0530 Wed, 04 Jan 2012 11:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=103 The Circular clarifies that if a service provider does not maintain separate accounts for input services used for taxable and exempt/non-taxable outputs, input service tax credit may be utilized only up to a capped proportion - 35% - of the total service tax payable on all taxable output services; field formations are to be informed and a trade notice issued. Circulars Service Tax Wed, 10 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/circulars?id=103