https://www.taxtmi.com/caselaws?id=361366 Rule 6(3)(c) of the CENVAT Credit Rules was read as imposing only a ceiling on utilisation of credit towards service tax and not a monthly or quarterly time limit. On that basis, unutilised credit from one period could be adjusted against excess utilisation in another period, provided the overall prescribed ceiling was not exceeded. Applying the assessee's earlier favourable decision, the tribunal held that the apparent excess in some months was not a recoverable breach when the credit position was examined across the relevant period. The demand was set aside and the appeal was allowed with consequential relief. en-us Wed, 09 May 2018 00:00:00 +0530 Wed, 06 Jun 2018 14:35:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361366 Rule 6(3)(c) of the CENVAT Credit Rules was read as imposing only a ceiling on utilisation of credit towards service tax and not a monthly or quarterly time limit. On that basis, unutilised credit from one period could be adjusted against excess utilisation in another period, provided the overall prescribed ceiling was not exceeded. Applying the assessee's earlier favourable decision, the tribunal held that the apparent excess in some months was not a recoverable breach when the credit position was examined across the relevant period. The demand was set aside and the appeal was allowed with consequential relief. Case-Laws Service Tax Wed, 09 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361366