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of <h1>Central Board Revises CENVAT Credit Rules: Key Changes to Rule 6 for Manufacturers Handling Dutiable and Exempted Goods/Services.</h1> The circular issued by the Central Board of Excise & Customs details amendments to the CENVAT Credit Rules, 2004, effective from April 1, 2008. It addresses Rule 6, which involves credit for manufacturers of both dutiable and exempted goods and services. Assessees can either maintain separate accounts or choose between two options: paying a percentage of the value of exempted goods/services or calculating credit attributable to exempted outputs. Clarifications are provided on credit eligibility, option restrictions, value determination, and accounting codes. Exported services without tax are not considered exempt, and input services under Rule 6(5) are excluded from certain calculations.
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