https://www.taxtmi.com/caselaws?id=755091 CESTAT Hyderabad ruled on wrongful Cenvat Credit availment exceeding prescribed caps under Cenvat Credit Rules 2004 for 2008-10. Appellant provided both taxable and exempted services without maintaining separate accounts. Tribunal held appellant could utilize credit beyond 20% cap but must follow proper procedures under Rule 6(3). Extended limitation period and penalty under Section 78 were upheld due to deliberate non-disclosure. Matter remanded to adjudicating authority for recalculation of recoverable credit amount, interest, and penalty quantum after proper verification of documents and accounts. en-us Wed, 03 Jul 2024 00:00:00 +0530 Wed, 03 Jul 2024 15:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755091 CESTAT Hyderabad ruled on wrongful Cenvat Credit availment exceeding prescribed caps under Cenvat Credit Rules 2004 for 2008-10. Appellant provided both taxable and exempted services without maintaining separate accounts. Tribunal held appellant could utilize credit beyond 20% cap but must follow proper procedures under Rule 6(3). Extended limitation period and penalty under Section 78 were upheld due to deliberate non-disclosure. Matter remanded to adjudicating authority for recalculation of recoverable credit amount, interest, and penalty quantum after proper verification of documents and accounts. Case-Laws Service Tax Wed, 03 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755091