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<h1>CENVAT Credit amendments restrict credit use, revise definitions, and impose monthly payment and accounting obligations for taxpayers</h1> Amendments expand definitions of input and input service, include captive generation of electricity and goods cleared with final products, and extend the manufacturer definition for specified goods. They bar CENVAT credit where exemption under notification No.1/2011-CE is availed, restrict credit utilisation, require separate accounts for exempted and dutiable outputs, mandate proportionate repayment where input service payments are returned, and impose prescribed monthly payment obligations and recovery mechanisms for non payment, with limited carve outs for SEZ authorized operations.
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