Assessee can't split accounts for common input services u/r 6, sub-rule (2) to bypass 20% credit limit.

Assessee can't split accounts for common input services u/r 6, sub-rule (2) to bypass 20% credit limit. https://www.taxtmi.com/highlights?id=36289 Reversal of CENVAT credit - Rule 6 - providing taxable and exempted services - the asssessee cannot choose to maintain separate account in respect of common input services under sub-rule (2) and, at the same time, follow sub-rule (3) in respect of a few of the common input services so that the bar of 20% utilisation of credit on final tax liability can be avoided. - It would be against the basic principle of CCR. en-us Wed, 13 Sep 2017 08:05:00 +0530 Wed, 13 Sep 2017 08:05:00 +0530 TaxTMI RSS Generator Assessee can't split accounts for common input services u/r 6, sub-rule (2) to bypass 20% credit limit. https://www.taxtmi.com/highlights?id=36289 Reversal of CENVAT credit - Rule 6 - providing taxable and exempted services - the asssessee cannot choose to maintain separate account in respect of common input services under sub-rule (2) and, at the same time, follow sub-rule (3) in respect of a few of the common input services so that the bar of 20% utilisation of credit on final tax liability can be avoided. - It would be against the basic principle of CCR. Highlights Service Tax Wed, 13 Sep 2017 08:05:00 +0530 https://www.taxtmi.com/highlights?id=36289