CENVAT credit amendments revise eligibility, apportionment and distribution, imposing detailed attribution, reporting and compliance requirements. Amendments revise CENVAT credit eligibility, utilisation and distribution: expanding eligible capital goods and uses, removing certain exclusions, disallowing credit for Infrastructure Cess, prescribing spreading of credit for assignment of natural resource usage, extending registration validity, and creating a multi-option regime for attribution between exempted and non-exempted outputs with monthly provisional calculations, annual reconciliation, interest on shortfalls, reporting obligations, and special provisions for input service distributors, outsourced manufacturing units and manufacturer warehouses.
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CENVAT credit amendments revise eligibility, apportionment and distribution, imposing detailed attribution, reporting and compliance requirements.
Amendments revise CENVAT credit eligibility, utilisation and distribution: expanding eligible capital goods and uses, removing certain exclusions, disallowing credit for Infrastructure Cess, prescribing spreading of credit for assignment of natural resource usage, extending registration validity, and creating a multi-option regime for attribution between exempted and non-exempted outputs with monthly provisional calculations, annual reconciliation, interest on shortfalls, reporting obligations, and special provisions for input service distributors, outsourced manufacturing units and manufacturer warehouses.
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