https://www.taxtmi.com/caselaws?id=358118 Trading activity was treated as attracting Rule 6 of the CENVAT Credit Rules, 2004 for the relevant pre-01.04.2011 period, because it was not regarded as an exempted service and common input services used for such activity required reversal of credit. On that basis, the demand for reversal of CENVAT credit was sustained. However, the Tribunal accepted the assessee's bona fide belief on classification of trading activity and the availability of credit balance, and therefore held that interest and penalty were not payable on the facts. en-us Wed, 07 Mar 2018 00:00:00 +0530 Thu, 10 May 2018 17:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358118 Trading activity was treated as attracting Rule 6 of the CENVAT Credit Rules, 2004 for the relevant pre-01.04.2011 period, because it was not regarded as an exempted service and common input services used for such activity required reversal of credit. On that basis, the demand for reversal of CENVAT credit was sustained. However, the Tribunal accepted the assessee's bona fide belief on classification of trading activity and the availability of credit balance, and therefore held that interest and penalty were not payable on the facts. Case-Laws Service Tax Wed, 07 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358118