CENVAT credit rules: conditions for taking credit on inputs, capital goods and input services with return and payment safeguards. The rule prescribes conditions for availing CENVAT credit on inputs, capital goods and input services: inputs qualify on receipt at factory, provider premises or job-worker premises with documentary proof and return within prescribed periods; capital goods receive phased credit across years with exceptions for full allowance and exclusions for depreciation-claimed duty; credits remain available where goods are leased; goods sent to job workers require records of return or trigger repayment of credit; input service credit is allowed on receipt of specified documents and, where reverse charge applies, on payment, with mandatory reversal if service payment or tax is not timely made.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
CENVAT credit rules: conditions for taking credit on inputs, capital goods and input services with return and payment safeguards.
The rule prescribes conditions for availing CENVAT credit on inputs, capital goods and input services: inputs qualify on receipt at factory, provider premises or job-worker premises with documentary proof and return within prescribed periods; capital goods receive phased credit across years with exceptions for full allowance and exclusions for depreciation-claimed duty; credits remain available where goods are leased; goods sent to job workers require records of return or trigger repayment of credit; input service credit is allowed on receipt of specified documents and, where reverse charge applies, on payment, with mandatory reversal if service payment or tax is not timely made.
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