CENVAT CREDIT (AMENDMENT ) RULES, 2008 – RULE 3
Last updated: 26 September 2008
CENVAT CREDIT (AMENDMENT ) RULES, 2008 – RULE 3
NOTIFICATION NO. 35/ 2008-CENTRAL EXCISE (N.T.), DATED 24-9-2008
G.S.R. (E).- In exercise of the powers conferred by section 37 of the Central Excise Act, 1944 (1 of 1944) and section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the CENVAT Credit Rules, 2004, namely:-
1. (1) These rules may be called the CENVAT Credit (Amendment )Rules, 2008.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the CENVAT Credit Rules, 2004, in rule 3, in sub-rule (1), after clause (xi), the following proviso shall be inserted, namely :-
“ Provided that the CENVAT credit shall be allowed to be taken of the amount equal to central excise duty paid on the capital goods at the time of debonding of the unit in terms of the para 8 of notification No. 22/2003-Central Excise, published in the Gazette of India, part II, Section 3,sub-section(i),vide number G.S.R. 265(E), dated, the 31st March,2003.”
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