8% Demand Quashed as Proportionate Reversal Applies Under Rule 6(3A): CESTAT Kolkata

Advertisement Bank of India Vs Commissioner of Service Tax (CESTAT Kolkata) The appeal concerned the denial of CENVAT credit, demand of service tax, interest, and penalties against a banking entity providing both taxable and exempted services. The Department alleged that the appellant had not maintained separate accounts for input services used for taxable and exempted services, had wrongly availed credit distributed by its Head Office without proper Input Service Distributor (ISD) registration, and had failed to comply with Rule 6 of the CENVAT Credit Rules, 2004. Based on these allegation...