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of <h1>India Amends CENVAT Credit Rules: Reversal Rate Increased from 6% to 7% Effective June 1, 2015</h1> The Government of India, through the Ministry of Finance's Department of Revenue, has amended Rule 6 of the CENVAT Credit Rules, 2004. Effective from June 1, 2015, the rate of reversal of credit has been increased from 6% to 7%. This amendment is part of the CENVAT Credit (Third Amendment) Rules, 2015, and was officially published in the Gazette of India. The changes involve modifying specific clauses in the sub-rule to reflect the new percentage rate applicable to the value of goods.
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