https://www.taxtmi.com/caselaws?id=751378 The CESTAT Chennai allowed the appeal regarding reversal of CENVAT credit for exempted services rendered as trading activity. The appellant had exercised the option under Rule 6(3A) by submitting intimation letters dated 24.05.2011 and 02.05.2012 to the Department. The Department rejected this option claiming it could not operate retrospectively from 01.04.2011 and 01.04.2012 respectively. The Tribunal held that the appellant had properly exercised the option and reversed the credit attributable to exempted services. The requirement under Rule 6(3A) was deemed procedural, and the demand could not be confirmed for procedural lapses. The impugned order was found unsustainable. en-us Mon, 15 Apr 2024 00:00:00 +0530 Mon, 15 Apr 2024 14:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751378 The CESTAT Chennai allowed the appeal regarding reversal of CENVAT credit for exempted services rendered as trading activity. The appellant had exercised the option under Rule 6(3A) by submitting intimation letters dated 24.05.2011 and 02.05.2012 to the Department. The Department rejected this option claiming it could not operate retrospectively from 01.04.2011 and 01.04.2012 respectively. The Tribunal held that the appellant had properly exercised the option and reversed the credit attributable to exempted services. The requirement under Rule 6(3A) was deemed procedural, and the demand could not be confirmed for procedural lapses. The impugned order was found unsustainable. Case-Laws Service Tax Mon, 15 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751378