https://www.taxtmi.com/news?id=314 Amendment to rule 6(3A) prescribes a formula to allocate Cenvat credit attributable to exempted goods and services where separate books are not kept. The press release identifies a drafting error in clause (C)(iii): variable letters were misassigned. The correct reading assigns M to total value of exempted services plus exempted goods removed during the year, N to total value of taxable and exempted services plus dutiable and exempted goods removed during the year, and P to total Cenvat credit taken on input services during the financial year. en-us Mon, 03 Mar 2008 11:47:00 +0530 Tue, 24 Jun 2008 15:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=314 Amendment to rule 6(3A) prescribes a formula to allocate Cenvat credit attributable to exempted goods and services where separate books are not kept. The press release identifies a drafting error in clause (C)(iii): variable letters were misassigned. The correct reading assigns M to total value of exempted services plus exempted goods removed during the year, N to total value of taxable and exempted services plus dutiable and exempted goods removed during the year, and P to total Cenvat credit taken on input services during the financial year. News - Mon, 03 Mar 2008 11:47:00 +0530 https://www.taxtmi.com/news?id=314