21 June 2012
If cenvat credit on general purpose expenses like Audit, prof fees. Etc. for the services availaed in past years when entity was not providing any tax free service sand as such no bifurction is nesccary.
in current year entity provides Taxable as well as non-taxable services. and accrodingly only calim Credit for specific corelated services for out put services.
is the above cerdit also needed to split into directly related input and otherwise or can able to take full credit as it a credit lawfully earned and entity was not having any Exempt services in year in which it has earned this credit.??
Kindly refer to sections which can specifically deal with this..
CAclubindia
