https://www.taxtmi.com/article/detailed?id=5505 Trading of goods does not constitute a service and input-service CENVAT credit attributable to trading activity is not admissible. Tribunals require segregation and accounting-based apportionment of input services used partly for taxable services and partly for trading, directing adjudicating authorities to verify and reverse the portion attributable to trading. A post enactment labeling of trading as an "exempted service" was treated as a legal fiction and did not negate the denial of credit for the relevant periods. en-us Fri, 28 Feb 2014 10:37:55 +0530 Fri, 28 Feb 2014 10:37:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5505 Trading of goods does not constitute a service and input-service CENVAT credit attributable to trading activity is not admissible. Tribunals require segregation and accounting-based apportionment of input services used partly for taxable services and partly for trading, directing adjudicating authorities to verify and reverse the portion attributable to trading. A post enactment labeling of trading as an "exempted service" was treated as a legal fiction and did not negate the denial of credit for the relevant periods. Articles Service Tax Fri, 28 Feb 2014 10:37:55 +0530 https://www.taxtmi.com/article/detailed?id=5505