https://www.taxtmi.com/caselaws?id=449815 CESTAT Mumbai ruled in favor of appellants regarding CENVAT credit disputes for input services used in exempt services. The tribunal found appellants maintained separate accounts as required under Cenvat Credit Rules, 2004, contrary to original authority's findings. Evidence showed appellants provided project lists distinguishing taxable and exempt services, and properly reversed credit for exempt services. The tribunal relied on coordinate bench precedents and SC judgment in Chandrapur Magnet Wires, holding that reversal of CENVAT credit for common input services satisfied compliance requirements. Demands for interest and penalty were set aside, and appeals were allowed. en-us Mon, 19 Feb 2024 00:00:00 +0530 Tue, 20 Feb 2024 15:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449815 CESTAT Mumbai ruled in favor of appellants regarding CENVAT credit disputes for input services used in exempt services. The tribunal found appellants maintained separate accounts as required under Cenvat Credit Rules, 2004, contrary to original authority's findings. Evidence showed appellants provided project lists distinguishing taxable and exempt services, and properly reversed credit for exempt services. The tribunal relied on coordinate bench precedents and SC judgment in Chandrapur Magnet Wires, holding that reversal of CENVAT credit for common input services satisfied compliance requirements. Demands for interest and penalty were set aside, and appeals were allowed. Case-Laws Service Tax Mon, 19 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449815