https://www.taxtmi.com/forum/issue?id=4129 Cenvat credit for rented premises used for both exempted and taxable services must be managed by one of three alternatives: maintain separate accounts limiting credit to taxable-use inputs; pay the prescribed levy on exempted-service value; or reverse credit proportionately using the statutory apportionment formula. The assessee must choose the option in writing for the financial year; where input-stage segregation is impractical, pay the levy or apply proportionate reversal, the latter often being more economical. en-us Sat, 05 May 2012 15:49:41 +0530 Thu, 23 Jan 2025 15:58:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=4129 Cenvat credit for rented premises used for both exempted and taxable services must be managed by one of three alternatives: maintain separate accounts limiting credit to taxable-use inputs; pay the prescribed levy on exempted-service value; or reverse credit proportionately using the statutory apportionment formula. The assessee must choose the option in writing for the financial year; where input-stage segregation is impractical, pay the levy or apply proportionate reversal, the latter often being more economical. Discussion-Forum Service Tax Sat, 05 May 2012 15:49:41 +0530 https://www.taxtmi.com/forum/issue?id=4129