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Cenvat credit

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 April 2012 Hello All,

Can someone please tell me how to take credit of common expenses incurred while providing both taxable services and exempted service.
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vignesh

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vignesh (Expert)
17 April 2012 Hi,

You can claim your credit through proportionate basis.
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Durgesh Laddha

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Durgesh Laddha (Expert)
17 April 2012 yes, you can take credit for portion which is used for taxable services only.
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CA Nikhil Jhanwar

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CA Nikhil Jhanwar (Expert)
18 April 2012 There are many option available for taking proportionate credit. as contained in Rule 6 of Cenvat Credit Rules, 2004

1. Take full credit of all expenses and then reverse/pay 5% of credit in respect of exempted services

2. IF separate details are available for expenses used in exempted service and that in taxable service then proportionate credit can be reduced.
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Querist : Anonymous

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Querist : Anonymous (Querist)
18 April 2012 Thanks everyone

But can you guys please tell me in detail what all different types of books and accounts required to maintain under rule 6(2).
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