Log in Register

Login to your account

Username *
Password *
Remember Me

Create an account

Fields marked with an asterisk (*) are required.
Name *
Username *
Password *
Verify password *
Email *
Verify email *
Captcha *
View more blog entries

Consult Construction

Consult Us For Construction

Common Input Credit Reversal

Posted by on in Service Tax
  • Font size: Larger Smaller
  • Hits: 764
  • 0 Comments
  • Subscribe to this entry
  • Print
  • Report this post
CESTAT allows reversal of CENVAT credit attributable to input services used for provision of exempted services, under Rule 6(3)(ii) of Cenvat Credit Rules, 2004 (CCR), even though procedure under Rule 6(3A) stipulating exercising of such option in writing and furnishing necessary details, not followed; Assessee, a practising chartered accountant rendered both taxable and exempt service, utilised CENVAT credit and paid an amount of CENVAT credit on input services used towards exempted services before Show Cause Notice issuance; Enforcing payment at 8/6 percent of exempted service under Rule 6(3)(i) merely because of non-payment of due amount on time as per procedure prescribed in Rule 6(3A) too harsh, when it is undisputed by Revenue that assessee paid same amount which was due under Rule 6(3A); Further, allows CENVAT credit on insurance, repair and maintenance of motor vehicles issued in partners name, where expenditure incurred from firm's budget and taken into its books of accounts; Relies on Karnataka HC judgement in Adecco Flexione Workforce Solutions and sets aside penalty absent existence of element of mens rea : Mumbai Tribunal
Rate this blog entry:
47
Trackback URL for this blog entry.

Comments

  • No comments made yet. Be the first to submit a comment

Leave your comment

Guest
Guest Friday, 21 July 2017

Like us on facebook

Twitter Feed

ConsultC Session organised by Builders' Association of India on RERA and GST at Mumbai https://t.co/D6bjdqk54I
ConsultC The word is spreading on https://t.co/QI70LPC81h
ConsultC GST - Impact on Projects, Mumbai https://t.co/6vST83thsK

Address

Address:
304, Super Plaza, Sandesh Press Road, Vastrapur, Ahmedabad
Gujarat-380054
Tel:
+91 - 079 - 40032950
E-Mail:
This email address is being protected from spambots. You need JavaScript enabled to view it.
Website:
www.consultconstruction.com

markerFind on Google Maps

Who we are

We are Ahmedabad based professional consulting firm. We are providing various services to Construction, Real Estate and Project Companies in various areas like Indirect Taxation – Service Tax & Multi state VAT consultancy, ERP implementation, Site & Management audit, Designing Tender & other related contractual documents etc.