cenvat credit rules amendments
This query is : Resolved
19 October 2016
need help with amendments
19 October 2016
2. In the CENVAT Credit Rules, 2004,-
(a) in rule 6, in sub-rule (3) for clause (i), the following clause shall be substituted ,
namely :-
“(i) pay an amount equal to six per cent. of value of the exempted goods and seven per
cent. of value of the exempted services subject to a maximum of the sum total of opening
balance of the credit of input and input services available at the beginning of the period
to which the payment relates and the credit of input and input services taken during that
period; or” ;
(b) in rule 7B, in sub-rule (1) for the words and figures “invoices, issued in terms of the
provisions of the Central Excise Rules, 2002,” the words and figure “documents
specified under rule 9,” shall be substituted.
(a) in rule 6, in sub-rule (3) for clause (i), the following clause shall be substituted ,
namely :-
“(i) pay an amount equal to six per cent. of value of the exempted goods and seven per
cent. of value of the exempted services subject to a maximum of the sum total of opening
balance of the credit of input and input services available at the beginning of the period
to which the payment relates and the credit of input and input services taken during that
period; or” ;
(b) in rule 7B, in sub-rule (1) for the words and figures “invoices, issued in terms of the
provisions of the Central Excise Rules, 2002,” the words and figure “documents
specified under rule 9,” shall be substituted.
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