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Cenvat Credit

Service Tax - Started By: - Sanjeev Sharma - Dated:- 26-5-2016 Last Replied Date:- 27-5-2016 - A Service Provider providing Chargeable and Exempted service both was paying service tax after taking of input which are used only in taxable services in accordance with old rule 6(2). Now with the changes in Budget 2016, what are the compliance to be done by that service provider who is taking credit of only those input which are directly used in taxable services. He is not taking any credit for commo .....

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input services.]43[(3) (a) A manufacturer who manufactures two classes of goods, namely :-(i) non-exempted goods removed;(ii) exempted goods removed;or(b) a provider of output service who provides two classes of services, namely:-(i) non-exempted services;(ii) exempted services,shall follow any one of the following options applicable to him, namely :- 49[(i) pay an amount equal to six per cent. of value of the exempted goods and seven per cent. of value of the exempted services subject to a max .....

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on the condition that no of inputs and input services, used for providing such taxable service, shall be taken then the amount specified in clause (i) shall be seven per cent. of the value so exempted :Provided also that in case of transportation of goods or passengers by rail, the amount required to be paid under clause (i) shall be an amount equal to two per cent. of value of the exempted services.Explanation 1.- If the manufacturer of goods or the provider of output service, avails any of th .....

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