Bank's Cenvat Credit Reversal: Rule 6(3)(c) Limits Credit Use to 20% for Taxable and Exempt Services Compliance.

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....Reversal of Cenvat Credit - Taxable and Exempted services provided by SBI - Rule 6(3)(c) of the Cenvat Credit Rules, 2004 - The provisions of the Rule restricting utilization of credit to the extent of 20% of the tax payable is a very clear cut provision and the concerned branch of the SBI was required to follow the same.... - AT....