https://www.taxtmi.com/article/detailed?id=1655 Amendments broaden Cenvat Credit eligibility by allowing credit on many motor vehicles and their parts, recognising service-tax credits for renting/hiring, insurance and repairs for specified recipients, permitting credit for inputs/capital goods located outside premises with documentation, and extending challan-based credit to all reverse-charge recipients. Export refunds of unutilised credit are calculated by export-to-total turnover ratio without detailed input-service correlation. The payable amount on removal of used capital goods is the higher of adjusted credit-based sum or duty on transaction value. Blocked credit rates for exempt activities are increased, life-insurance credit restriction removed, input service distribution tied to actual use, SAD credit transferability allowed, and interest liability on wrong credits clarified. en-us Mon, 19 Mar 2012 12:38:50 +0530 Mon, 19 Mar 2012 12:38:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1655 Amendments broaden Cenvat Credit eligibility by allowing credit on many motor vehicles and their parts, recognising service-tax credits for renting/hiring, insurance and repairs for specified recipients, permitting credit for inputs/capital goods located outside premises with documentation, and extending challan-based credit to all reverse-charge recipients. Export refunds of unutilised credit are calculated by export-to-total turnover ratio without detailed input-service correlation. The payable amount on removal of used capital goods is the higher of adjusted credit-based sum or duty on transaction value. Blocked credit rates for exempt activities are increased, life-insurance credit restriction removed, input service distribution tied to actual use, SAD credit transferability allowed, and interest liability on wrong credits clarified. Articles Service Tax Mon, 19 Mar 2012 12:38:50 +0530 https://www.taxtmi.com/article/detailed?id=1655