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<h1>CENVAT credit transfer timelines set with a fixed window and conditional extension to regulate inter unit credit movement.</h1> The amendment excludes banking companies and financial institutions, including non banking financial companies engaged in providing deposits, loans or advances, from the operation of the specified clause in Explanation I to rule 6(3D). It further inserts a provision in rule 10 permitting transfer of CENVAT credit within three months from receipt of the application by the Deputy or Assistant Commissioner, subject to sub rule (3), with a discretionary extension by the Principal Commissioner or Commissioner for a further period not exceeding six months on sufficient cause and recorded reasons.