https://www.taxtmi.com/caselaws?id=752017 CESTAT Bangalore ruled on CENVAT Credit reversal for trading activity involving exempt services. The respondent failed to maintain separate inventory or opt under Rule 6(2) of CCR 2004. The tribunal held that proportionate credit reversal under Rule 6(3A) requires payment of 15% per annum interest from due date. The Commissioner incorrectly waived interest despite available account balance. Service tax demand of Rs.1,14,64,277 was confirmed. Revenue's appeal succeeded only regarding interest demand, which must be paid as per Rule 6(3A) requirements. en-us Tue, 30 Apr 2024 00:00:00 +0530 Wed, 01 May 2024 18:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752017 CESTAT Bangalore ruled on CENVAT Credit reversal for trading activity involving exempt services. The respondent failed to maintain separate inventory or opt under Rule 6(2) of CCR 2004. The tribunal held that proportionate credit reversal under Rule 6(3A) requires payment of 15% per annum interest from due date. The Commissioner incorrectly waived interest despite available account balance. Service tax demand of Rs.1,14,64,277 was confirmed. Revenue's appeal succeeded only regarding interest demand, which must be paid as per Rule 6(3A) requirements. Case-Laws Service Tax Tue, 30 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752017