https://www.taxtmi.com/forum/issue?id=813 Rule 6(2) excludes interest on loans from taxable value, while Notification No.29/2004 exempts overdraft, cash credit and discounting of bills to the extent of interest. Rule 6(3) of the credit rules refers to the value of exempted service; accordingly interest excluded by valuation rules would not be included in the Rule 6(3) calculation, but the value of exempted facilities such as overdraft, cash credit or discounting should be taken into account. An alternative view treats any service not attracting service tax, whether by non inclusion or exemption, as governed by Rule 6 for cenvat purposes. en-us Thu, 26 Jun 2008 08:36:10 +0530 Thu, 23 Jan 2025 15:58:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=813 Rule 6(2) excludes interest on loans from taxable value, while Notification No.29/2004 exempts overdraft, cash credit and discounting of bills to the extent of interest. Rule 6(3) of the credit rules refers to the value of exempted service; accordingly interest excluded by valuation rules would not be included in the Rule 6(3) calculation, but the value of exempted facilities such as overdraft, cash credit or discounting should be taken into account. An alternative view treats any service not attracting service tax, whether by non inclusion or exemption, as governed by Rule 6 for cenvat purposes. Discussion-Forum Service Tax Thu, 26 Jun 2008 08:36:10 +0530 https://www.taxtmi.com/forum/issue?id=813