https://www.taxtmi.com/forum/issue?id=110265 Reversal of Cenvat credit on common inputs requires proportionate allocation between taxable and exempt services and reversal of the portion attributable to exempt supplies. The dispute centers on whether the allocation denominator should use gross taxable revenue or the taxable portion after abatement (the revenue on which tax is paid); using gross taxable revenue or taxable revenue net of abatement yields different reversal amounts. The issue further raises whether interest on fixed deposits qualifies as a service by the assessee for this purpose. en-us Fri, 29 Apr 2016 11:22:10 +0530 Thu, 23 Jan 2025 15:56:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=110265 Reversal of Cenvat credit on common inputs requires proportionate allocation between taxable and exempt services and reversal of the portion attributable to exempt supplies. The dispute centers on whether the allocation denominator should use gross taxable revenue or the taxable portion after abatement (the revenue on which tax is paid); using gross taxable revenue or taxable revenue net of abatement yields different reversal amounts. The issue further raises whether interest on fixed deposits qualifies as a service by the assessee for this purpose. Discussion-Forum Service Tax Fri, 29 Apr 2016 11:22:10 +0530 https://www.taxtmi.com/forum/issue?id=110265