Our company is Partnership firm dealing in paperboards. There are only 2 areas whereby we were paying service tax i.e. service tax on foreign commission earned and on transporters. And we have taken service tax input credit on expenses incurred & service tax paid on such expenses. Our other majority business was purely on VAT/Excise etc. We would like to know whether Rule 6(3A) of Cenvat Credit Rules, 2004 applicable to us or not. If yes, why?
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Rule 6(3) of cenvat credit rules
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Thanks for your reply, can you tell me the formula for reversal of credit.
If We have paid excise duty and VAT in our sales transactions, still our business will be treated as expemped services??
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