Deemed credit availability affirmed with new duty rates; credit computed on actual duty paid and AED credit usable for Cenvat. Deemed credit may be availed alongside revised excise rates, with the deemed credit percentage applied to the duty rate actually paid under the new notification. Deemed credit rates were not reduced despite yarn duty cuts. Additionally, credit of additional duty (GSI) accrued prior to the budget change may be used for payment of CENVAT duty as well as for AED(GSI), reflecting amendments to CENVAT rules and the altered revenue-distribution regime.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deemed credit availability affirmed with new duty rates; credit computed on actual duty paid and AED credit usable for Cenvat.
Deemed credit may be availed alongside revised excise rates, with the deemed credit percentage applied to the duty rate actually paid under the new notification. Deemed credit rates were not reduced despite yarn duty cuts. Additionally, credit of additional duty (GSI) accrued prior to the budget change may be used for payment of CENVAT duty as well as for AED(GSI), reflecting amendments to CENVAT rules and the altered revenue-distribution regime.
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