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Cenvat Reversal Ratio U/R 6
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....envat Reversal Ratio U/R 6<br> Query (Issue) Started By: - Manoj Sharma Dated:- 18-1-2013 Last Reply Date:- 22-1-2013 Service Tax<br>Got 1 Reply<br>Service Tax<br>Sir, We have business of Real Estate....
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.... ( sale purchase of plots/shops etc and constructin house & sale etc) and have commercial units from which We receive Rental / Maint. My Query is while calculating ratio for reversal of CENVAT U/R 6 ....
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....for exempted service , should we require to add diffrence of value of sale purchase of above said plots/shops & house as exempted service ? Will the same fall in definition of "Trading" . Regards ....
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....Manoj Sharma Reply By ANAND SHEMBEKAR: The Reply: If you are using common services for both exempted goods / serices and taxable goods / services , and also taking cenvat credit on services and not ....
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....maintaining separate accounts of input services utilised for output services then you are required to reverse the cenvat credit taken on input services / goods . The reversals would be 6% of value of ....
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....exempted goods / services . in case of trading, shall be the difference between the sale price and the cost of goods sold (determined as per the generally accepted accounting principles wit....
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....hout including the expenses incurred towards their purchase) or ten per cent of the cost of goods sold, whichever is more. Thanks A M SHEMBEKAR CELL 91-9421187122 Chiplun Dist. Ratnagiri<br> Discu....
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