https://www.taxtmi.com/caselaws?id=752275 Reversal of CENVAT credit for common facilities hinges on compliance with Rule 6 procedures: proportionate reversal principles apply differently for periods before April 2008 (no prescribed monthly proportionate reversal; limited utilisation) and after April 2008 (monthly provisional reversals under the amended rule with annual final adjustment). Maintenance of separate accounts from receipt and monthly reversals, verifiable by competent certification, satisfies the procedural requirement and mitigates disallowance; however, a residual inadmissible credit balance of 29,24,565 must be reversed with interest. Certifications must demonstrate conformity with Rule 6 recordkeeping and monthly/annual reconciliation requirements. en-us Thu, 02 May 2024 00:00:00 +0530 Mon, 19 Jan 2026 15:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752275 Reversal of CENVAT credit for common facilities hinges on compliance with Rule 6 procedures: proportionate reversal principles apply differently for periods before April 2008 (no prescribed monthly proportionate reversal; limited utilisation) and after April 2008 (monthly provisional reversals under the amended rule with annual final adjustment). Maintenance of separate accounts from receipt and monthly reversals, verifiable by competent certification, satisfies the procedural requirement and mitigates disallowance; however, a residual inadmissible credit balance of 29,24,565 must be reversed with interest. Certifications must demonstrate conformity with Rule 6 recordkeeping and monthly/annual reconciliation requirements. Case-Laws Service Tax Thu, 02 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752275