https://www.taxtmi.com/caselaws?id=268945 In a stay application under the Cenvat Credit Rules, the Tribunal found a prima facie case that no further reversal was required on input services used merely to receive inputs removed as such, while also treating the department's full-sale-price valuation of trading as prima facie unsustainable. It noted that later amendments to the definitions of exempted service and the valuation rule could not, on the face of it, be applied retrospectively against the assessee. However, because certain common services such as security, telephone and sales promotion could relate to both manufacture and trading, some proportionate reversal might still be due. Full waiver was declined, but partial pre-deposit was ordered and the balance demand, interest and penalty were stayed. en-us Mon, 09 Feb 2015 00:00:00 +0530 Sat, 05 Dec 2015 11:03:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268945 In a stay application under the Cenvat Credit Rules, the Tribunal found a prima facie case that no further reversal was required on input services used merely to receive inputs removed as such, while also treating the department's full-sale-price valuation of trading as prima facie unsustainable. It noted that later amendments to the definitions of exempted service and the valuation rule could not, on the face of it, be applied retrospectively against the assessee. However, because certain common services such as security, telephone and sales promotion could relate to both manufacture and trading, some proportionate reversal might still be due. Full waiver was declined, but partial pre-deposit was ordered and the balance demand, interest and penalty were stayed. Case-Laws Central Excise Mon, 09 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268945