https://www.taxtmi.com/article/detailed?id=6491 Utilisation and reversal of Cenvat credit must be distinguished and disclosed separately in the service tax return. Utilisation permits credit to be applied to excise duty, certain cess liabilities and service tax, with specific columns for service tax, cess, excise duty, clearance of removed inputs/capital goods, and inter unit transfers; matching of totals and constraints on using credit for reverse charge and for certain arrear payments apply. Reversal arises for wrongly availed credit, exempted turnover adjustments, non-payment to service providers within prescribed time, refunds/credit notes, pre-deposit for appeals, write-offs, job worker non-returns, and similar events, and must be disclosed with articulated reasons. en-us Fri, 23 Oct 2015 08:13:58 +0530 Fri, 23 Oct 2015 08:13:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6491 Utilisation and reversal of Cenvat credit must be distinguished and disclosed separately in the service tax return. Utilisation permits credit to be applied to excise duty, certain cess liabilities and service tax, with specific columns for service tax, cess, excise duty, clearance of removed inputs/capital goods, and inter unit transfers; matching of totals and constraints on using credit for reverse charge and for certain arrear payments apply. Reversal arises for wrongly availed credit, exempted turnover adjustments, non-payment to service providers within prescribed time, refunds/credit notes, pre-deposit for appeals, write-offs, job worker non-returns, and similar events, and must be disclosed with articulated reasons. Articles Service Tax Fri, 23 Oct 2015 08:13:58 +0530 https://www.taxtmi.com/article/detailed?id=6491