https://www.taxtmi.com/caselaws?id=291559 The Tribunal partially allowed the appeal, emphasizing the need for separate accounts for common input services under Rule 6 of the Cenvat Credit Rules, 2004. It upheld the interest demand on Cenvat credit for trading activities, rejecting retrospective application of amendments. The service tax demand and penalties were set aside, with the department instructed to quantify the interest payable. The decision clarified the treatment of trading activities under the Finance Act, 1994, and established a precedent for future cases. en-us Tue, 18 Feb 2020 00:00:00 +0530 Wed, 13 Nov 2024 12:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291559 The Tribunal partially allowed the appeal, emphasizing the need for separate accounts for common input services under Rule 6 of the Cenvat Credit Rules, 2004. It upheld the interest demand on Cenvat credit for trading activities, rejecting retrospective application of amendments. The service tax demand and penalties were set aside, with the department instructed to quantify the interest payable. The decision clarified the treatment of trading activities under the Finance Act, 1994, and established a precedent for future cases. Case-Laws Service Tax Tue, 18 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291559