https://www.taxtmi.com/caselaws?id=375755 The Tribunal ruled in favor of the appellants, determining that only services wholly exempted from service tax should be included in the formula for credit reversal under Rule 6(3A) of CENVAT Credit Rules, 2004. The appellants successfully argued that since only 90% of the interest amount was exempted, the services were partially taxable, and the exempted value should not be included in the credit reversal calculation. The assessing officer was directed to reevaluate the tax liability, granting the appellants the benefit of the 90% exemption while ensuring the balance 10% was taxable. The appeal was allowed and partly remanded for further assessment. en-us Fri, 22 Feb 2019 00:00:00 +0530 Mon, 25 Feb 2019 07:39:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375755 The Tribunal ruled in favor of the appellants, determining that only services wholly exempted from service tax should be included in the formula for credit reversal under Rule 6(3A) of CENVAT Credit Rules, 2004. The appellants successfully argued that since only 90% of the interest amount was exempted, the services were partially taxable, and the exempted value should not be included in the credit reversal calculation. The assessing officer was directed to reevaluate the tax liability, granting the appellants the benefit of the 90% exemption while ensuring the balance 10% was taxable. The appeal was allowed and partly remanded for further assessment. Case-Laws Service Tax Fri, 22 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375755