Cenvat credit
Querist : Anonymous
Can someone please tell me how to take credit of common expenses incurred while providing both taxable services and exempted service.
You can claim your credit through proportionate basis.
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.
Querist : Anonymous
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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