Held - A plain reading to proviso to Rule 4(7) shows that if a payment for the invoice is not made within three months, the assessee has to refund the CENVAT amount thereof and if a part payment is made, to that extent they can take credit. It is not the case here that the appellant has not paid the amount, they have paid the amount for the services rendered at a reduced rate and have paid the full amount of service tax which was paid by the s.....

Held - In the present context, ‘consideration’, as defined under section 2(31), provides the scope and ambit for modes of payment. It includes, in relation to the supply of goods or services, any payment, made or to be made, whether in money or otherwise, and also the monetary value of any act or forbearance. This definition of ‘consideration’ cast the net so wide that almost no form of paym.....

Held - The rationale behind Rule 4 (7) of the Cenvat Credit Rules is that during the period prior to 1/3/11, which is the period of dispute in this case, by virtue of Rule 6 (1) of the Service Tax Rules, 1994, service tax in respect of the service provided or to be provided was payable by 6th day of the month immediately following the month in which the payment for the service provided or to be provided was received by the service provider. Th.....