TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>CENVAT Credit Rules 2002: No Credit for Inputs Used Exclusively in Exempted Goods; Maintain Separate Accounts or Pay 8.</h1> The circular addresses the issue of availing CENVAT credit on inputs used exclusively for manufacturing exempted goods. It clarifies that under the CENVAT Credit Rules, 2002, no credit is permissible for inputs solely used in the production of exempted goods. Manufacturers must either maintain separate accounts for inputs used in both dutiable and exempted goods or pay 8% of the price of exempted goods if common inputs are used. The circular emphasizes that this rule applies only to common inputs and not to those exclusively used for exempted goods. Necessary actions should be taken to recover any wrongly availed credits.
TaxTMI 