Seeks to amend CENVAT Credit Rules, 2004 so as to withdraw the facility to avail of CENVAT credit of duty paid on molasses generated in the sugar season 2015-16 (i.e. 1st October, 2015 to 30th September 2016) which is used for producing ethanol for supply to public sector OMCs for blending with petrol by omitting rule 6 (6) (ix) of the CENVAT Credit Rules, 2004 - 41/2016 - Central Excise - Non Tariff

India Amends CENVAT Credit Rules: Withdrawal of Credit Facility for Molasses Used in Ethanol Production for 2015-16 Season.

The Government of India, through the Ministry of Finance, has issued Notification No. 41/2016 to amend the CENVAT Credit Rules, 2004. This amendment, effective upon publication in the Official Gazette, omits clause (ix) of sub-rule (6) in rule 6, thereby withdrawing the facility to avail CENVAT credit for duty paid on molasses generated during the sugar season 2015-16. This molasses was used for producing ethanol supplied to public sector oil marketing companies for blending with petrol. The amendment is made under the powers conferred by the Central Excise Act, 1944, and the Finance Act, 1994.