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2013 (11) TMI 1357 - CESTAT CHENNAICENVAT Credit - Classification of service - Whether trading could be treated as an exempted service for the purpose of Cenvat credit - Held that:- dispute on the issue stands clarified by CBEC in favour of the appellant. Prima facie, we agree with the advocate for the applicant because credit was taken in accordance with provisions of rule 6(5) as it was existing at the relevant time and in the matter of utilization, applicant was complying with extant rule 6(3) of the rules as it was existing at the relevant time. Cenvat Credit so accumulated could not lapse in the absence of any legal provisions to that effect. This position also is accepted by CBEC also in its circular. So its subsequent utilisation cannot be faulted - Stay granted.
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