CA Vishal Mehta (CA) (123 Points)
25 October 2016If i am provider of both exempted and nonexempt service then rule 6(3) but if i am not provider of service in general and instead vat applies to me then if i have some other income will i get cenvat credit on whole of expense or nil or will i still apply rule 6 (3)
Mahendra
(Chartered Accountant)
(154 Points)
Replied 30 October 2016
There is a changes in Budget 2016 on the definition of exempted services which includes other income as well. so, Rule 6(3) will be applicable. In case of trading it will be profit which is to be conisidered while calculation of ratio of Rule 6(3)
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