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of <h1>Amendment narrows CENVAT credit to 'eligible duties', revises Explanations 1-2 applicability, excludes unspecified and customs cess</h1> With effect from July 1, 2017, the amendment narrows CENVAT credit to 'of eligible duties,' adjusts explanatory provisions to treat subsections (1), (3) and (4) as applicable in Explanation 1 (removing clause (iv)), and to treat subsections (1) and (5) as applicable in Explanation 2 (removing clause (iv)), all changes deemed retrospective. A new clarification states that 'eligible duties and taxes' excludes any cess not specified in Explanations 1 or 2 and excludes any cess collected as an additional customs duty under the Customs Tariff.
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