https://www.taxtmi.com/caselaws?id=762949 The CESTAT Kolkata upheld the lower authority's decision dismissing the department's appeal regarding cenvat credit on common input services. The assessee had availed 100% cenvat credit without maintaining separate accounts as required under Rule 6(3) of Cenvat Credit Rules, 2004 for exempted services. However, the tribunal held that since the credit amount for services used in exempted products was paid with interest, the conditions under Rule 6(3)(ii) read with Rule 6(3A) were sufficiently complied with. The tribunal relied on established precedents that reversal of credit with interest absolves liability to pay the prescribed percentage of exempted goods' value. en-us Wed, 23 Oct 2024 00:00:00 +0530 Wed, 11 Dec 2024 08:15:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762949 The CESTAT Kolkata upheld the lower authority's decision dismissing the department's appeal regarding cenvat credit on common input services. The assessee had availed 100% cenvat credit without maintaining separate accounts as required under Rule 6(3) of Cenvat Credit Rules, 2004 for exempted services. However, the tribunal held that since the credit amount for services used in exempted products was paid with interest, the conditions under Rule 6(3)(ii) read with Rule 6(3A) were sufficiently complied with. The tribunal relied on established precedents that reversal of credit with interest absolves liability to pay the prescribed percentage of exempted goods' value. Case-Laws Service Tax Wed, 23 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762949