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latest cenvat credit criteria

This query is : Resolved 
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(Querist)
01 March 2009 hello!
I wanted to know about latest cenvat credit criteria & its practial illustration.
Pls reply.
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Madhukar N Hiregange

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Madhukar N Hiregange (Expert)
15 April 2009 Maybe a little more information on what exactly you wish to know may help us to reply.
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sushil

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sushil (Querist)
15 April 2009 Dear Sir,
I, m not aware about the latest set off criteria. Earlier it was 20% of the input s.t. paid,
E.g. if output service tax =112/-
and input serivice tax paid =100/-
set off/ credit awailable =20/-(100*20%)
Serivce tax payable =112-20=92.
IS THERE ANY CHANGE IN THE 20% SET OFF RULE. IF YES, WHAT IS THE NEW RULE?
WAITING FOR UR REPLY ASAP.
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Dayal

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Dayal (Expert)
16 April 2009 The 20% concept has been withdrawn from 01.03.2008

Refer the circular for apportioning the credit.

The 20% was when you provide both taxable and exempt services.

Now rule 3/6 has been amended
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