https://www.taxtmi.com/caselaws?id=753900 CESTAT Kolkata set aside the demand for 5%/6% of exempted services value under Rule 6(3) of Cenvat Credit Rules, 2004 for the period 2009-10 to 2013-14. The appellant maintained separate accounts and had already reversed proportionate cenvat credit attributable to exempted services. Although transaction charge services' proportionate reversal was initially missed, it was corrected after audit. The tribunal held that since proportionate cenvat credit was already reversed, no payment of 5%/6% of exempted services value was required. The adjudicating authority failed to consider this fact. Penalty was also set aside as no sustainable demand existed. Appeal allowed. en-us Tue, 11 Jun 2024 00:00:00 +0530 Wed, 12 Jun 2024 16:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753900 CESTAT Kolkata set aside the demand for 5%/6% of exempted services value under Rule 6(3) of Cenvat Credit Rules, 2004 for the period 2009-10 to 2013-14. The appellant maintained separate accounts and had already reversed proportionate cenvat credit attributable to exempted services. Although transaction charge services' proportionate reversal was initially missed, it was corrected after audit. The tribunal held that since proportionate cenvat credit was already reversed, no payment of 5%/6% of exempted services value was required. The adjudicating authority failed to consider this fact. Penalty was also set aside as no sustainable demand existed. Appeal allowed. Case-Laws Service Tax Tue, 11 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753900