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TMI Blog2013 (10) TMI 863X X X X Extracts X X X X X X X X Extracts X X X X ..... rading activity cannot be called a service and therefore it cannot be considered as an exempted service also – adjudication order sets out the reasons for disregarding the assesse’s assessment of the allocation of the cenvat credit availed between the taxable Business Auxiliary Service. - We prima facie find no serious infirmity in the process adopted by the adjudicating authority for arriving at the quantum of cenvat credit irregularly availed by the petitioner which requires to be disallowed. - 50% of demand ordered to be pre-deposited - stay granted partly. - CEAC No. 41 of 2013 and C.M. Nos. 13845 & 13846 of 2013 - - - Dated:- 6-9-2013 - Sanjiv Khanna And Sanjeev Sachdeva , JJ. For the Appellants : J K Mittal, Mr. Varun Gaba and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n fact was being used exclusively for repairs and servicing of vehicles. 4A. Learned counsel for the appellant urges that the amendment is being wrongly interpreted as clarificatory and, therefore, retrospective. He has drawn our attention to the paragraph 3 of the impugned order wherein two conflicting judgments of the tribunal have been noticed. 5. Our attention is drawn to paragraph 4 of the impugned order wherein it is mentioned that the contention relating to extended period of limitation shall be considered at the time of hearing of the appeal and was not taken into consideration and examined when directing deposit of the entire amount of Cenvat credit and interest payable thereon. It is submitted that prima facie case would inclu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the difference between the sale price and the cost of goods sold (determined as per the generally accepted accounting principles without including the expenses incurred towards their purchase) or ten per cent of the cost of goods sold, whichever is more. Therefore the value of trading for the purpose of calculation of CENVAT Credit attributable to such activity works out to Rs.30,18,48,286/- and taxable activity will be Rs.20,56,04,413/- and the CENVAT inadmissible works out as under:- [Cost of sales of Trading turnover Rs.30,18,48,286 /-] /[ Total turnover of exempted and duitable services Rs.50,74,52,699]* [Total common input credit Rs.53,37,318]= Rs 31,74,799/- as inadmissible credit. Thus the CENVAT credit amounting to Rs ..... X X X X Extracts X X X X X X X X Extracts X X X X
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