I have one query. I was going through Cenvat Credit Rules, 2004 post Budget 2011
Rule 6(2) allow us to Maintain separate inventory and accounts of receipt and use of inputs and input services used for exempted goods/exempted output services .
This rule is silent on common services used for proving both taxable as well as exempted output services.
Here if we are having services that is used commonly for providing both the taxable as well as exempted output services, can we take credit of ST paid on such services if we are following option under Rule 6(2)?
(Rule 6(3)(i) / (ii) / (iii) options are available only if we are not following Rule 6(2). I don't think we can follow both Rule 6(2) as well as Rule 6(3)(ii) at the same time. We can follow only one option at a time.)
Please advice.
Also, Rule 6(5) has been deleted. How can we claim credit on such input services now?
CAclubindia
