Cenvat credit definitions clarify eligible capital goods, inputs and input services for credit entitlement and distribution. The rules define key terms for Cenvat credit: capital goods (specified machinery, components and certain motor vehicles when used in manufacture, captive ... Summary
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Cenvat credit definitions clarify eligible capital goods, inputs and input services for credit entitlement and distribution.
The rules define key terms for Cenvat credit: capital goods (specified machinery, components and certain motor vehicles when used in manufacture, captive power/pumping or for output services); input (goods used in manufacture, clearance, captive utilities and low-value capital goods, with specified exclusions); input service (services used in or in relation to manufacture and provision of output services, with enumerated inclusions and exclusions); and organizational terms like "input service distributor", "job work", "place of removal" and dealer classifications.
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