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of <h1>Amendments to CENVAT Credit Rules from 1 July 2012 redefine services, expand vehicle classifications, adjust credit, valuation and refund rules</h1> Amendments to the CENVAT Credit Rules, effective 1 July 2012, revise definitions and scope (replacing 'taxable service' with 'output service'), expand motor vehicle classifications and usages, redefine 'exempted service' and 'output service,' and clarify goods and service exclusions related to works contracts and construction. Procedural changes include CENVAT credit usage limits, valuation rules, pro rata distribution of credits among units, special provisions for SEZs and exports, and allowance for refund of unutilised credit where reverse charge applies. Several cross-references to Service Tax Rules are updated and compliance, documentation and payment obligations are adjusted accordingly.
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