Input credit transfer: optional scheme lets exempt powerloom weavers issue challans enabling buyers to claim CENVAT credit. Exempt powerloom weavers may optionally pass on attributable input credit for duty-paid yarn to multiple buyers by obtaining a declarant code, retaining input invoices, and issuing a prescribed pre-printed triplicate challan whose ORIGINAL enables the buyer to claim CENVAT credit; units must file quarterly statements and supply originals and duplicate challans for range reconciliation of credits, consumption, production and clearances.
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Provisions expressly mentioned in the judgment/order text.
Exempt powerloom weavers may optionally pass on attributable input credit for duty-paid yarn to multiple buyers by obtaining a declarant code, retaining input invoices, and issuing a prescribed pre-printed triplicate challan whose ORIGINAL enables the buyer to claim CENVAT credit; units must file quarterly statements and supply originals and duplicate challans for range reconciliation of credits, consumption, production and clearances.
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