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of <h1>Ministry of Finance Clarifies CENVAT Credit Rules 2004: Eligibility, Non-Creditable Goods, and Trading Activity Guidelines.</h1> The circular issued by the Ministry of Finance provides clarifications on various issues related to the CENVAT Credit Rules 2004, following amendments made in 2011. Key points include the ineligibility of credit for capital goods used in manufacturing exempted goods or services, the illustrative nature of the list of non-creditable goods and services, and the allowance of credit for goods used in manufacturing unless explicitly denied. It confirms credit eligibility for input services used in factory or office renovations and clarifies credit on sales commission services. It also addresses credit treatment for trading activities and accounting principles for trading value calculations.
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