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of <h1>Only one-sixth of CENVAT-derived central tax credit on imported gold dore bars may be retained; five-sixths must be reversed</h1> Where CENVAT-derived central tax credit in the electronic credit ledger arose from the additional duty of customs paid on imported gold dore bars held on 1 July 2017 or contained in gold or gold jewellery made from such bars, only one-sixth of that credit may be retained; the remaining five-sixths must be reversed (debited) from the electronic credit ledger at the time of supply of the gold dore bar or the gold/gold jewellery made from it. If such supplies already occurred, the five-sixths reversal must be effected within one week from commencement of the governing rules.
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