https://www.taxtmi.com/caselaws?id=346775 The Tribunal held that the respondent is liable to reverse Cenvat credit attributable to trading activities on a proportionate basis. It was decided that the respondent cannot claim the benefit of full credit on common input services without maintaining separate accounts. The explanation under Rule 2(e) regarding exempted services, including trading, was held to be applicable only from 01/04/2011. The respondent was directed to reverse the credit for trading activities without separate accounts, as no credit was available on input services for trading before it was categorized as a service. The demand for reversal of Cenvat credit was deemed legally sustainable without imposing any penalty. en-us Thu, 06 Jul 2017 00:00:00 +0530 Wed, 23 Aug 2017 07:32:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346775 The Tribunal held that the respondent is liable to reverse Cenvat credit attributable to trading activities on a proportionate basis. It was decided that the respondent cannot claim the benefit of full credit on common input services without maintaining separate accounts. The explanation under Rule 2(e) regarding exempted services, including trading, was held to be applicable only from 01/04/2011. The respondent was directed to reverse the credit for trading activities without separate accounts, as no credit was available on input services for trading before it was categorized as a service. The demand for reversal of Cenvat credit was deemed legally sustainable without imposing any penalty. Case-Laws Service Tax Thu, 06 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346775