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Does A Person Providing Both Exempted & Taxable Services And Reversing Cenvat Credit @ 7% Of Value Of Exempted Service Under Rule 6 Of The Credit Rules, Needs To Reverse The Kkc Also? |
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Answer» Yes, since the KKC is included in the CENVAT credit chain UNLIKE SBC, therefore, Cenvat credit have to be REVERSED in the similar manner as was earlier reversed in case of EDUCATION Cess and Secondary Higher Education Cess. Yes, since the KKC is included in the Cenvat credit chain unlike SBC, therefore, Cenvat credit have to be reversed in the similar manner as was earlier reversed in case of Education Cess and Secondary Higher Education Cess. |
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