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of <h1>CENVAT Credit Rules: Manufacturers and Service Providers Must Comply with Input Use and Reporting Requirements Under Rule 6</h1> The CENVAT Credit Rules, 2004, detail obligations for manufacturers and service providers regarding the use of inputs for exempted goods and services. CENVAT credit is not allowed for inputs used in exempted goods or services, with specific calculations required for credit amounts. Manufacturers or service providers must choose between paying a percentage of the value of exempted goods/services or following a detailed calculation method. Special provisions exist for banking and financial institutions. Exemptions apply for goods/services supplied to SEZs, export-oriented units, and certain international organizations. Non-compliance results in interest penalties, and specific reporting requirements are mandated.
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