https://www.taxtmi.com/article/detailed?id=6806 Amendments modify the Cenvat Credit Rules so that reversal obligations under Rule 6(3) are computed against opening and current period credit for exempted goods and services, and the scope of exempted services is widened to include certain non service activities. Rule 4(7) clarified that service tax on upfront charges for assignment of rights to use natural resources is to be claimed evenly over a specified multi year period, with the usual one year claim limit inapplicable for such governmental or local authority provided assignments. A departmental circular provides implementation guidance, and commentators note potential disputes where deemed inputs may trigger reversal rules. en-us Tue, 03 May 2016 21:36:19 +0530 Tue, 03 May 2016 21:36:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6806 Amendments modify the Cenvat Credit Rules so that reversal obligations under Rule 6(3) are computed against opening and current period credit for exempted goods and services, and the scope of exempted services is widened to include certain non service activities. Rule 4(7) clarified that service tax on upfront charges for assignment of rights to use natural resources is to be claimed evenly over a specified multi year period, with the usual one year claim limit inapplicable for such governmental or local authority provided assignments. A departmental circular provides implementation guidance, and commentators note potential disputes where deemed inputs may trigger reversal rules. Articles Cenvat Credit Tue, 03 May 2016 21:36:19 +0530 https://www.taxtmi.com/article/detailed?id=6806