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<h1>CENVAT Credit Rules 2011 Update: New Definitions, Restrictions, and Exemptions for Inputs and Services Effective April 1, 2011.</h1> The CENVAT Credit (Amendment) Rules, 2011 introduced modifications to the CENVAT Credit Rules, 2004, effective April 1, 2011. Key changes include definitions and exclusions for 'input' and 'input service,' specifying goods and services eligible for credit. The amendment restricts CENVAT credit for certain exempted goods and services, requiring separate accounts for inputs and input services for exempted and taxable goods/services. It also sets conditions for credit utilization and payment obligations for manufacturers and service providers. Special provisions are made for banking and financial institutions, and exemptions apply to services provided to Special Economic Zones.