https://www.taxtmi.com/caselaws?id=249039 CENVAT credit on input services used exclusively for trading could not be taken or utilised against service tax on taxable output services during the relevant period, because trading was neither a taxable service nor an exempted service, and the 2011 explanation treating trading as exempted operated prospectively from 01.04.2011. The text also states that extended limitation and penalty may apply where credit is wrongly availed for trading activities without bona fide interpretational doubt, while interest under Rule 14 read with section 75 is chargeable only on credit actually utilised, requiring recomputation on that basis. en-us Fri, 06 Jun 2014 00:00:00 +0530 Tue, 20 Oct 2015 16:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249039 CENVAT credit on input services used exclusively for trading could not be taken or utilised against service tax on taxable output services during the relevant period, because trading was neither a taxable service nor an exempted service, and the 2011 explanation treating trading as exempted operated prospectively from 01.04.2011. The text also states that extended limitation and penalty may apply where credit is wrongly availed for trading activities without bona fide interpretational doubt, while interest under Rule 14 read with section 75 is chargeable only on credit actually utilised, requiring recomputation on that basis. Case-Laws Service Tax Fri, 06 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249039