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Q. > Please Help: service tax input
As per rule 6(3B) of CCR 2004, bank has to reverse 50% of cenvat taken in a relevant month.
Is this applies input taken on capital goods also?
Kindly quote the relevant rule and try to reply ASAP.
Thanks in advance
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SARTHAK JAIN
16-Apr-2014 , 11:29:32 pmNo,rule 6(3B) do not take into its ambit input on capital goods. I applies to only inputs and input service. You may refer rule 6(3B) itself for such clarity, which is reproduced here as - "[(3B) Notwithstanding anything contained in sub-rules (1), (2) and (3), a banking company and a financial institution including a non-banking financial company, [engaged in providing services by way of extending deposits, loans or advances], shall pay for every month an amount equal to fifty per cent. of the CENVAT credit availed on inputs and input services in that month."