9911796707
TMI BlogCenvat Reversal Ratio U/R 6X X X X Extracts X X X X X X X X Extracts X X X X ..... Cenvat Reversal Ratio U/R 6 X X X X Extracts X X X X X X X X Extracts X X X X ..... e ( 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 wi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... thout 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 X X X X Extracts X X X X X X X X Extracts X X X X ..... ussion Forum - Knowledge Sharing ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
