Instructions regarding CENVAT

CENVAT credit clarified: supplementary invoices, job worker receipts, transitional and SED credit eligibility affirmed for manufacturers under amended rules.

Supplementary invoices issued after provisional assessment are eligible documents for CENVAT credit where additional duty is recovered. Rule 57AB(1) now permits credit for inputs sent to job workers when returned with documents evidencing duty under rule 57AE(1). SSI units (and other assessees) beginning to pay duty after an exemption embargo may claim credit on inputs in stock, inputs in finished goods, and inputs in process with documentary quantification. Transitional credit earned before 1.4.2000 may be claimed under rule 57AG(1), timing of immediate entry is not mandatory, and specified SED credits and project import limits are addressed.