https://www.taxtmi.com/caselaws?id=267241 The appeal challenged the demand under Rule 6(3)(i) of Cenvat Credit Rules, 2004, on a Cooperative Bank for availing Cenvat credit on common input services. The Tribunal found that interest on loans was not exempted services during the relevant period, and the appellant had paid the entire service tax credit with interest, rendering Rule 6(3) inapplicable. Compliance with separate account procedures was deemed unnecessary as the appellant had paid the full credit. The retrospective amendment under Section 73 of Finance Act, 2010, requiring payment of Cenvat credit with interest, aligned with the appellant's actions, leading to the unsustainable demand under Rule 6(3)(i). en-us Fri, 10 Jul 2015 00:00:00 +0530 Fri, 13 May 2016 17:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267241 The appeal challenged the demand under Rule 6(3)(i) of Cenvat Credit Rules, 2004, on a Cooperative Bank for availing Cenvat credit on common input services. The Tribunal found that interest on loans was not exempted services during the relevant period, and the appellant had paid the entire service tax credit with interest, rendering Rule 6(3) inapplicable. Compliance with separate account procedures was deemed unnecessary as the appellant had paid the full credit. The retrospective amendment under Section 73 of Finance Act, 2010, requiring payment of Cenvat credit with interest, aligned with the appellant's actions, leading to the unsustainable demand under Rule 6(3)(i). Case-Laws Service Tax Fri, 10 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267241