https://www.taxtmi.com/highlights?id=57640 CENVAT Credit - exempted activity or not - trading in mutual funds - The appellant cannot be termed as “service provider” because he only makes an investment in the mutual fund and earn profit from it which is shown in the Books of Accounts under the head “other income”. Hence the question of invoking Rule 6 does not arise and hence the Department has wrongly invoked the provisions of Rule 6(3) demanding the reversal of credit on the exempted services. - AT en-us Sat, 17 Apr 2021 21:24:09 +0530 Sat, 17 Apr 2021 21:24:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=57640 CENVAT Credit - exempted activity or not - trading in mutual funds - The appellant cannot be termed as “service provider” because he only makes an investment in the mutual fund and earn profit from it which is shown in the Books of Accounts under the head “other income”. Hence the question of invoking Rule 6 does not arise and hence the Department has wrongly invoked the provisions of Rule 6(3) demanding the reversal of credit on the exempted services. - AT Highlights Service Tax Sat, 17 Apr 2021 21:24:09 +0530 https://www.taxtmi.com/highlights?id=57640