https://www.taxtmi.com/forum/issue?id=5204 Where common input services are used for both taxable and exempted outputs and no separate accounts are maintained, the assessee must reverse CENVAT credit proportionate to the value of exempted goods or services, calculated at six percent of that value. For trading, taxable value is the greater of the difference between sale price and cost of goods sold determined by accepted accounting principles (excluding purchase expenses) or ten percent of the cost of goods sold. en-us Fri, 18 Jan 2013 12:41:56 +0530 Thu, 23 Jan 2025 15:57:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=5204 Where common input services are used for both taxable and exempted outputs and no separate accounts are maintained, the assessee must reverse CENVAT credit proportionate to the value of exempted goods or services, calculated at six percent of that value. For trading, taxable value is the greater of the difference between sale price and cost of goods sold determined by accepted accounting principles (excluding purchase expenses) or ten percent of the cost of goods sold. Discussion-Forum Service Tax Fri, 18 Jan 2013 12:41:56 +0530 https://www.taxtmi.com/forum/issue?id=5204