Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
Don't have an account? Register Here
<h1>Finance Act 2005 amends CENVAT Credit Rules 2001, adds Explanation 2 to Rule 6 for interest recovery.</h1> The Fifth Schedule of the Finance Act, 2005, amends the CENVAT Credit Rules, 2001, specifically Rule 6. The amendment involves renumbering the existing Explanation as Explanation 1 and adding a new Explanation 2. Explanation 2 stipulates that if a manufacturer fails to pay the required amount, it will be recovered with interest, following the procedure outlined in Rule 12 for the recovery of wrongly taken CENVAT credit. This amendment applies from July 1, 2001, to February 28, 2002.