https://www.taxtmi.com/article/detailed?id=1837 Supply of food or drink that is part of an activity is a declared service only to the extent of the service component; the goods supplied are deemed sale and excluded from the service. The contract must be dissected into sale and service components. The service portion is valued by specified percentages under the valuation rules; abatement is available subject to restrictions on credit for foodstuffs. Cenvat credit is not available for goods classifiable as human consumption items, while credit on other inputs follows the Cenvat Credit Rules including reversal provisions. Certain restaurants and mid day meal catering are exempt. en-us Wed, 01 Aug 2012 07:54:07 +0530 Fri, 17 Aug 2012 12:17:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1837 Supply of food or drink that is part of an activity is a declared service only to the extent of the service component; the goods supplied are deemed sale and excluded from the service. The contract must be dissected into sale and service components. The service portion is valued by specified percentages under the valuation rules; abatement is available subject to restrictions on credit for foodstuffs. Cenvat credit is not available for goods classifiable as human consumption items, while credit on other inputs follows the Cenvat Credit Rules including reversal provisions. Certain restaurants and mid day meal catering are exempt. Articles Service Tax Wed, 01 Aug 2012 07:54:07 +0530 https://www.taxtmi.com/article/detailed?id=1837