CESTAT allows Proportionate Credit Reversal, Questions Additional Tax on Trading [Read Order]

The Tribunal observed that the appellant’s willingness to reverse the proportionate Cenvat credit attributable to trading was a reasonable approach to resolve the issue

By Varda Marakkar - On November 4, 2024 12:55 pm - 2 mins read

Tax on Trading - Cenvat credit reversal - Cenvat credit for trading - Trading tax - Tax on trading activities - taxscan

In a decision, the Customs, Excise & Service Tax Appellate Tribunal ( CESTAT ) West Zonal Bench at Ahmedabad permitted the reversal of proportionate Cenvat credit to address a tax demand linked to trading activities. The case hinged on whether the appellant/ assessee, Emerson Project Management, a private entity involved in both manufacturing and trading—should…

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