CENVAT Credit Rules: Service Tax Payment Limited to 20% of Taxable Output Services; Excess Use Not Recognized.

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....CENVAT Credit - During the period, the credit cannot be utilised in excess of 20% of the amount of service tax payable on taxable output services. Therefore, if service tax is paid utilising the CENVAT, it does not amount to paying service tax and service tax can be demanded.....