https://www.taxtmi.com/caselaws?id=784896 Whether activity constitutes trading: The tribunal found the appellant's procurement and supply of goods and gift vouchers falls within ordinary/commercial "trading activity" under CCR 2004; outcome: activity is trading (against appellant). Whether gift vouchers are actionable claims: The tribunal held vouchers are goods-in-lieu, not actionable claims, so their trading attracts Rule 6 consequences; outcome: Rule 6 applies. Admissibility of CENVAT credit (pre-1.4.2011 and 1.4.2011-31.3.2016 and post-2016): The Explanation to the amendment clarifies restriction was declaratory; credit attributable to trading was inadmissible before 1.4.2011 and, from 1.4.2011 onward trading is deemed exempted so Rule 6(1) mandates denial absent strict compliance with reversal/accounting; outcome: credits disallowed for all periods without Rule 6 compliance. Limitation, interest and penalties: Non-declaration in returns justified invocation of extended limitation, interest is automatic, and penalties upheld (limited waiver under Section 80 for certain pre-2015 periods). en-us Thu, 08 Jan 2026 00:00:00 +0530 Wed, 14 Jan 2026 08:56:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784896 Whether activity constitutes trading: The tribunal found the appellant's procurement and supply of goods and gift vouchers falls within ordinary/commercial "trading activity" under CCR 2004; outcome: activity is trading (against appellant). Whether gift vouchers are actionable claims: The tribunal held vouchers are goods-in-lieu, not actionable claims, so their trading attracts Rule 6 consequences; outcome: Rule 6 applies. Admissibility of CENVAT credit (pre-1.4.2011 and 1.4.2011-31.3.2016 and post-2016): The Explanation to the amendment clarifies restriction was declaratory; credit attributable to trading was inadmissible before 1.4.2011 and, from 1.4.2011 onward trading is deemed exempted so Rule 6(1) mandates denial absent strict compliance with reversal/accounting; outcome: credits disallowed for all periods without Rule 6 compliance. Limitation, interest and penalties: Non-declaration in returns justified invocation of extended limitation, interest is automatic, and penalties upheld (limited waiver under Section 80 for certain pre-2015 periods). Case-Laws Service Tax Thu, 08 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784896