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of <h1>Valuation of Goods on Removal: Pay Credit Amount u/r 3(5) CENVAT Credit Rules, 2004 for Post-March 2003 Transactions.</h1> The circular addresses the valuation of goods concerning the removal of capital goods or inputs from a manufacturer's factory. It clarifies that under rule 3(5) of the CENVAT Credit Rules, 2004, a manufacturer must pay an amount equal to the credit availed when removing such goods. This rule applies to situations after March 1, 2003, following an amendment to rule 3(4) of the CENVAT Credit Rules, 2002. Prior to this date, the applicable rules required payment equal to the excise duty on the removal date. The circular directs that these clarifications be communicated to relevant parties.
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