https://www.taxtmi.com/caselaws?id=377313 The Tribunal ruled in favor of the appellant, a public sector organization providing telecom services, in a case involving denial of cenvat credit for clearing capital goods without reversal. The Tribunal held that no reversal of cenvat credit was necessary as the goods were transferred within the organization, ensuring revenue neutrality. Recovery under Rule 6(3)(C) for exceeding the credit limit was not sustained due to balancing out in subsequent months. However, the demand for failure to reverse proportionate cenvat credit for exempted services post-01.04.2008 was upheld, citing lack of bonafide belief, but the penalty was set aside due to organizational officers' mistake. en-us Wed, 27 Feb 2019 00:00:00 +0530 Thu, 28 Mar 2019 06:53:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377313 The Tribunal ruled in favor of the appellant, a public sector organization providing telecom services, in a case involving denial of cenvat credit for clearing capital goods without reversal. The Tribunal held that no reversal of cenvat credit was necessary as the goods were transferred within the organization, ensuring revenue neutrality. Recovery under Rule 6(3)(C) for exceeding the credit limit was not sustained due to balancing out in subsequent months. However, the demand for failure to reverse proportionate cenvat credit for exempted services post-01.04.2008 was upheld, citing lack of bonafide belief, but the penalty was set aside due to organizational officers' mistake. Case-Laws Service Tax Wed, 27 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377313