https://www.taxtmi.com/news?id=3 Manufacturers of both dutiable and exempt goods may either apportion Cenvat Credit proportionately on common inputs or take full credit and reverse a prescribed percentage on exempted goods; authorities have accepted both routes. A departmental circular invokes an exclusionary clause in Notification No. 30/2004 CE, stating the notification does not apply where input duty credit has been taken under the Cenvat Credit Rules, thereby restricting the exemption for manufacturers who have availed input credit and leaving proportionate apportionment as the practical option. en-us Mon, 12 Feb 2007 12:55:00 +0530 Sat, 23 Oct 2010 11:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=3 Manufacturers of both dutiable and exempt goods may either apportion Cenvat Credit proportionately on common inputs or take full credit and reverse a prescribed percentage on exempted goods; authorities have accepted both routes. A departmental circular invokes an exclusionary clause in Notification No. 30/2004 CE, stating the notification does not apply where input duty credit has been taken under the Cenvat Credit Rules, thereby restricting the exemption for manufacturers who have availed input credit and leaving proportionate apportionment as the practical option. News - Mon, 12 Feb 2007 12:55:00 +0530 https://www.taxtmi.com/news?id=3