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of <h1>CENVAT Credit Rules Amended: New Depreciation Rules, Full Credit for SSI, Penalties for Fraud Effective April 2010</h1> The Central Government has amended the CENVAT Credit Rules, 2004, effective from the publication date, with specific provisions effective from April 1, 2010. Key amendments include adjustments to depreciation calculations for capital goods removal, allowing full CENVAT credit for capital goods in SSI units under certain conditions, and extending credit for jigs, fixtures, moulds, and dies sent for production. Confiscation and penalty provisions have been updated to impose penalties for wrongful credit utilization, including cases involving fraud or intent to evade duty. These changes aim to streamline credit processes and enforce compliance.
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