CENVAT credit restriction where exemption under specified notifications is availed; credit disallowed for listed exempted goods. The amendment revises rule 2(d) to include goods exempted under the earlier notification and specified entries of a subsequent notification, narrows rule 2(l)(BA) to motor vehicles that are not capital goods (effective from the first day of April, 2012), and substitutes the proviso to rule 3(1)(i) to provide that CENVAT credit shall not be allowed where exemption benefits are availed under the specified notifications; the rules take effect on publication in the Official Gazette.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
CENVAT credit restriction where exemption under specified notifications is availed; credit disallowed for listed exempted goods.
The amendment revises rule 2(d) to include goods exempted under the earlier notification and specified entries of a subsequent notification, narrows rule 2(l)(BA) to motor vehicles that are not capital goods (effective from the first day of April, 2012), and substitutes the proviso to rule 3(1)(i) to provide that CENVAT credit shall not be allowed where exemption benefits are availed under the specified notifications; the rules take effect on publication in the Official Gazette.
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