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Cenvat reversal

Service Tax - Started By: - Debtosh Dey - Dated:- 4-11-2015 Last Replied Date:- 9-11-2015 - If common input service is ₹ 1,00,000 which caters to taxable output service ₹ 75,000, traded goods ₹ 25,000 (cost ₹ 20,000) and expor .....

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Ganeshan Kalyani - The Reply = In my view only credit proportionate to traded goods should be reversed. - Reply By KASTURI SETHI - The Reply = Dear Debtosh Dey Ji, The value of exported goods is not to be taken into consideration for working out the .....

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of Cenvat Credit Rules, you are not required to reverse the credit on the inputs, input service involved in the goods exported. There are a number of judgments on this issue. - Reply By Debtosh Dey - The Reply = I did mention that export goods do not .....

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n the denominator.Ref my numerical example : Ratio without export goods = 1,00,000/ (75,000+5,000) = 125% which is absurd ! Does this mean, assessee may reverse Cenvat @ 7% on service value in traded goods ? Please correct me if I am wrong.Thanks to .....

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, these can be treated as dutiable goods. So as per this option you are to pay 7% of the value of exempted services i.e. on trading goods. No exempted goods are involved. Hence no question of addition of 6 % of the value of exempted goods. It means o .....

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oods cannot be termed as exempted goods. These are dutiable goods. So the value of exported goods have to be considered in the denominator for input-output ratio. Formula is as under The amount of Cenvat Credit attributable to inputs used for provisi .....

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exempted services. D stands for credit taken on the inputs during the month minus 'A'. 'A' is Rule 3 A(b)(i). Sir, Have you applied 'D' ? 'A' may be nil as it pertains to exempted goods. I think something is missing i .....

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