https://www.taxtmi.com/caselaws?id=367186 Separate accounting for input services can satisfy Rule 6 of the CENVAT Credit Rules, 2004 even without any prescribed statutory format, where the assessee substantiates a bona fide and verifiable classification of direct, common and ineligible credit through records and certificates. The Tribunal accepted the assessee's method and rejected the departmental objection on compliance. However, credit attributable to exempted services that remained unreversed continued to require reversal, and interest was payable on that quantified balance because reversal operates as non-availment only to the extent actually made. Relief was therefore limited to the reversed portion, with the unreversed credit and interest liability sustained. en-us Fri, 14 Sep 2018 00:00:00 +0530 Mon, 15 Oct 2018 16:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367186 Separate accounting for input services can satisfy Rule 6 of the CENVAT Credit Rules, 2004 even without any prescribed statutory format, where the assessee substantiates a bona fide and verifiable classification of direct, common and ineligible credit through records and certificates. The Tribunal accepted the assessee's method and rejected the departmental objection on compliance. However, credit attributable to exempted services that remained unreversed continued to require reversal, and interest was payable on that quantified balance because reversal operates as non-availment only to the extent actually made. Relief was therefore limited to the reversed portion, with the unreversed credit and interest liability sustained. Case-Laws Service Tax Fri, 14 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367186