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of <h1>CENVAT Credit Rules Amended: Krishi Kalyan Cess Credit Allowed but Limited to Paying the Same Cess on Services.</h1> The CENVAT Credit (Seventh Amendment) Rules, 2016, effective from June 1, 2016, amends the CENVAT Credit Rules, 2004. It introduces a new sub-rule allowing providers of output services to claim CENVAT credit for the Krishi Kalyan Cess on taxable services under the Finance Act, 2016. However, this credit cannot be used to pay the Krishi Kalyan Cess. Additionally, the amendment specifies that CENVAT credit for the Krishi Kalyan Cess can only be used to pay this specific cess on taxable services. These changes are enacted under the authority of the Central Government as per the Central Excise Act, 1944, and the Finance Act, 1994.
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