<h1>Amendments to CENVAT Credit Rules: Credit for Education Cess, Revised Returns, Penalty Updates, and Exemption Reversals.</h1> The CENVAT Credit Rules, 2004 have been amended effective March 1, 2007. Key changes include allowing credit for Secondary and Higher Education Cess on inputs and capital goods, usable only for Education cesses. Rule 9 has been modified to permit CENVAT credit if all required invoice details are present, with allowances for missing non-essential details subject to verification. Rule 15 has been updated for penalties, and a provision for filing revised returns within 60 days has been added. New rules require reversal of CENVAT credit on inputs when opting for duty exemption or when a product becomes exempt, excluding input services.