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of <h1>CENVAT Credit Eligibility Clarified: Book Adjustments and Discounts Permitted u/s 67 of Finance Act, 1994.</h1> The circular clarifies the conditions under which CENVAT credit on input services can be availed. It addresses concerns about credit eligibility when payments are made via book adjustments or when the full invoice value is not paid due to discounts or deductions. It states that for 'Associate Enterprises,' credit can be claimed when payments are made as per section 67 of the Finance Act, 1994, including through book adjustments. Additionally, if a service receiver pays less than the invoiced amount due to discounts or deductions, the payment is considered final, allowing credit for the service tax paid. The credit amount should match the service tax paid, and adjustments should be made for any subsequent changes.
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