https://www.taxtmi.com/article/detailed?id=5558 Amendments require reversal of Cenvat credit on input services where duty is remitted and mandate payment of amounts due under reversal provisions by the fifth day of the following month (March excepted), with recovery under the rule for wrongly taken credit if unpaid. Rule 7 changes bar distribution of service tax credit to units exclusively engaged in exempted activities, restrict distribution of credits used wholly by one unit to that unit, and require pro rata distribution based on unit turnover during the redefined relevant period. New provisions expand regional dispensation references, add electronic quarterly filing for importers, permit administrative restrictions on credit use, and prescribe refund procedure under Rule 5B for partial reverse charge services. en-us Mon, 07 Apr 2014 06:07:53 +0530 Mon, 07 Apr 2014 06:07:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5558 Amendments require reversal of Cenvat credit on input services where duty is remitted and mandate payment of amounts due under reversal provisions by the fifth day of the following month (March excepted), with recovery under the rule for wrongly taken credit if unpaid. Rule 7 changes bar distribution of service tax credit to units exclusively engaged in exempted activities, restrict distribution of credits used wholly by one unit to that unit, and require pro rata distribution based on unit turnover during the redefined relevant period. New provisions expand regional dispensation references, add electronic quarterly filing for importers, permit administrative restrictions on credit use, and prescribe refund procedure under Rule 5B for partial reverse charge services. Articles Cenvat Credit Mon, 07 Apr 2014 06:07:53 +0530 https://www.taxtmi.com/article/detailed?id=5558