Rule 6(3a) of cenvat credit rule
This query is : Open
19 October 2015
Rule 6 (3A) of Cenvat credit rule, value of trading activity defined earlier (in explanation -I). Now its not there. When it was removed and what will be value of trading activity for calculation purposes?
19 October 2015
If assessee intends to pay amount on proportionate basis as provided in rule 6(3)(ii), the amount is to be calculated as provided in rule 6(3A) of cenvat credit rules. He has to pay amount provisionally on monthly basis. At the year end he has to calculate exact amount and pay difference if any or adjust excess amount paid.
19 October 2015
Ok. In that case what will be the value of non taxable service if it is trading. The turnover value or gross profit or 10%of COGS which ever is higher?
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