https://www.taxtmi.com/caselaws?id=429519 The Tribunal ruled in favor of the Appellant, allowing the appeal and setting aside the decision disallowing CENVAT Credit utilization for payment of Service Tax on output services. The Tribunal held that cross-sectoral utilization of credit is permissible under Rule 2 & 3 of CENVAT Credit Rules, 2004, and there is no requirement for a one-to-one correlation between payment of Service Tax and availed CENVAT Credit on inputs, capital goods, and input services. The decision was supported by legal interpretations, including the Finance Minister's Budget Speech and relevant case law, leading to the Appellant receiving consequential relief. en-us Fri, 28 Oct 2022 00:00:00 +0530 Thu, 22 Jun 2023 12:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429519 The Tribunal ruled in favor of the Appellant, allowing the appeal and setting aside the decision disallowing CENVAT Credit utilization for payment of Service Tax on output services. The Tribunal held that cross-sectoral utilization of credit is permissible under Rule 2 & 3 of CENVAT Credit Rules, 2004, and there is no requirement for a one-to-one correlation between payment of Service Tax and availed CENVAT Credit on inputs, capital goods, and input services. The decision was supported by legal interpretations, including the Finance Minister's Budget Speech and relevant case law, leading to the Appellant receiving consequential relief. Case-Laws Central Excise Fri, 28 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429519