https://www.taxtmi.com/circulars?id=5421 Credit of CVD on an imported aircraft is not allowable where the aircraft was used exclusively in providing exempted services at the time of import; under the Cenvat Credit Rules, credit on capital goods used only for exempted services is disallowed and such ab initio ineligible credit does not become eligible merely because the activity is later taxed. en-us Thu, 11 Sep 2008 00:00:00 +0530 Tue, 10 Jan 2012 12:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=5421 Credit of CVD on an imported aircraft is not allowable where the aircraft was used exclusively in providing exempted services at the time of import; under the Cenvat Credit Rules, credit on capital goods used only for exempted services is disallowed and such ab initio ineligible credit does not become eligible merely because the activity is later taxed. Circulars Service Tax Thu, 11 Sep 2008 00:00:00 +0530 https://www.taxtmi.com/circulars?id=5421