2009 (7) TMI 223

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..... only contention is that the trading activities cannot be held to be an exempted activity, so as to require the assessee to maintain separate modvat account, in terms of Rule 6 of Cenvat Credit Rules – Revenue contend that trading activities are not liable to service tax and as such, any input service used in or in relation to said activity, would not be ineligible input service - prima facie force .....

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..... tion is that, admittedly trading activities are not liable to service tax and as such, any input service used in or in relation to said activity, would not be ineligible input service for the purposes of modvat credit. 2. Apart from the fact that I find prima facie force in the above contention of the learned SDR, I note that the amount of tax required to be deposited is only to the extent of .....

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