Credit for capital goods scheme establishes procedural requirements for claiming, utilising and recovering specified duty credit. The amendments mandate quadruplicate, serialised invoices for removal of excisable goods with prescribed markings and countersignature rules, condition input credit on receipt under duty evidencing documents, provide transitional credit for certain inputs received before declaration dates, and introduce a new scheme allowing credit of specified duty on capital goods used to manufacture listed final products subject to definitions, exclusions, declaration, verification, utilisation, account keeping in R.G.23C and recovery mechanisms for wrongly availed credits.
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Provisions expressly mentioned in the judgment/order text.
Credit for capital goods scheme establishes procedural requirements for claiming, utilising and recovering specified duty credit.
The amendments mandate quadruplicate, serialised invoices for removal of excisable goods with prescribed markings and countersignature rules, condition input credit on receipt under duty evidencing documents, provide transitional credit for certain inputs received before declaration dates, and introduce a new scheme allowing credit of specified duty on capital goods used to manufacture listed final products subject to definitions, exclusions, declaration, verification, utilisation, account keeping in R.G.23C and recovery mechanisms for wrongly availed credits.
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