https://www.taxtmi.com/highlights?id=74974 Reversal of Cenvat Credit - Whether the appellant is liable to pay 5% / 6% / 7% of the value of exempted services (trading) as they failed to maintain separate accounts of common inputs availed for taxable services and exempted services? - The tribunal determined that the department could not deny the appellant the option to reverse proportionate credit attributable to trading, even without prior intimation. The demand for payment of 5%, 6%, or 7% of the value of exempted services was found unsustainable. en-us Sat, 17 Feb 2024 06:49:54 +0530 Sat, 17 Feb 2024 06:49:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=74974 Reversal of Cenvat Credit - Whether the appellant is liable to pay 5% / 6% / 7% of the value of exempted services (trading) as they failed to maintain separate accounts of common inputs availed for taxable services and exempted services? - The tribunal determined that the department could not deny the appellant the option to reverse proportionate credit attributable to trading, even without prior intimation. The demand for payment of 5%, 6%, or 7% of the value of exempted services was found unsustainable. Highlights Service Tax Sat, 17 Feb 2024 06:49:54 +0530 https://www.taxtmi.com/highlights?id=74974