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2016 (7) TMI 872 - AT - Service TaxWaiver of penalty - Cenvat Credit - providing taxable services and trading activity - Cenvat Credit in relation to trading activity was proposed to be denied - Held that:- Though there is no escape from payment of cenvat on the non-taxable trading activity but to some extent, the Ld. Counsel is correct that the maintenance of account in this regard is difficult task. - the appellant has paid the entire cenvat credit on common input services even though some part of the input service is attributed to the taxable activity. The appellant also paid the interest. - the appellant has been able to show the reasonable cause for availing the cenvat credit attributed to the trading activity. - appellant is entitled for waiver of penalty imposed under Section 78. - penalty waived - Decided in favor of assessee.
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