CENVAT Credit Rules 2017 w.e.f 01.07.2017 – Notification No 20/2017 – Central Excise (N.T.) Dated 30th June, 2017

CENVAT Credit Rules 2017 CENVAT Credit Rules 2017 has been Notified vide Notification No 20/2017 – Central Excise (N.T.) Dated 30th June, 2017 [TO BE PUBLISHED IN GAZETTE OF INDIA, EXTRAORDINARY, PART –II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 20/2017 – Central Excise (N.T.) New Delhi, the 30th June, 2017 G.S.R. (E)Read More…

Rule 4 Cenvat Credit Rules 2004 – Conditions for allowing CENVAT credit.

Rule 4 Cenvat Credit Rules 2004 Conditions for allowing CENVAT credit. 4 . (1) The CENVAT credit in respect of inputs may be taken immediately on receipt of the inputs in the factory of the manufacturer or in the premises of the provider of output service 54a[or in the premises of the job worker, in case goods are sent directly to the job worker on the direction of the manufacturer oRead More…

Rule 10 Cenvat Credit Rules 2004 – Transfer of CENVAT credit.

Rule 10 Cenvat Credit Rules 2004 Transfer of CENVAT credit. 10. (1) If a manufacturer of the final products shifts his factory to another site or the factory is transferred on account of change in ownership or on account of sale, merger, amalgamation, lease or transfer of the factory to a joint venture with the specific provision for transfer of liabilities of such factory, then, theRead More…

Rule 7 Cenvat Credit Rules 2004 – Manner of distribution of credit by input service distributor

1 [Manner of distribution of credit by input service distributor. 7. The input service distributor shall distribute the CENVAT credit in respect of the service tax paid on the input service to its manufacturing units or unit providing output service or an outsourced manufacturing units, as defined in Explanation 4, subject to the following conditions, namely :— (a) the crRead More…

V.S. Datey -Central Excise Law & Practice – 26th Edition 2017 Book

Central Excise Law & Practice (26th Edition 2017-As Amended by Finance Act 2017) Hardcover – 2017 by V.S. Datey (Author) Also Incorporating Central Excise Valuation and Classification Cenvat Credit Central Excise Procedures SSIs/Job Work Price Rs 1507. Click to buy online Hardcover: 1320 pages Publisher: Taxmann Publications Pvt. Ltd.; 26th Edition editioRead More…

Cenvat Credit available on input services even if depreciation is also claimed on it

CESTAT, MUMBAI BENCH Shree Pandurang SSK Ltd. v. Commissioner of Central Excise, Pune-III RAMESH NAIR, MEMBER, (J.) APPEAL NO. E/592 OF 2012 ORDER NO. A/85139/17/SMB DECEMBER  7, 2016 Sanjay Hasija, Superintendent (AR) for the Respondent. ORDER Ramesh Nair, Member (J.) – The issue involved in the present case is that appellant availed Cenvat credit in respect of input Read More…

Invoices in name of employees , No denial of Cenvat Credit :ITAT

Held Even though the invoices are not in the name of the appellant but it is in the name of the directors and the employees of the company, credit should be allowed for the reason that all these expenditure were incurred by the appellant company and the same is not under dispute, therefore even though the invoices are not in the name of the company but in the name of the directors/employees and tRead More…

CENVAT credit of duty paid on molasses generated in sugar season 2015-16

Seeks to amend CENVAT Credit Rules, 2004 so as to withdraw the facility to avail of CENVAT credit of duty paid on molasses generated in the sugar season 2015-16 (i.e. 1st October, 2015 to 30th September 2016) which is used for producing ethanol for supply to public sector OMCs for blending with petrol by omitting rule 6 (6) (ix) of the CENVAT Credit Rules, 2004. GOVERNMENT OF INDIA MINISTRY OF FRead More…

Excise duty on Jewellery – Cenvat Credit rules Amended

Seeks to amend the CENVAT Credit Rules, 2004 in relation to articles of jewellery or parts of articles of jewellery or both, falling under heading 7113 of the First Schedule to the Central Excise Tariff Act, 1985 (5 of 1986). [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NotificatioRead More…

CENVAT Credit can’t be denied because invoices destroyed in fire

HELD I am of the view that even though invoices have been destroyed in fire but if invoices have been recorded in the ledger and books of account of the respondent the Cenvat credit cannot be denied. Respondent could not have recorded the invoice in the ledger unless physical invoices were available. It is not only the invoice or ledger entry but the respondent might have paid invoice value to thRead More…