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of <h1>CENVAT Credit Rules 2001: Guidelines for Claiming Excise Duty Credit on Inputs and Capital Goods in Manufacturing</h1> The CENVAT Credit Rules, 2001, effective from July 1, 2001, under the Central Excise Act, 1944, outline regulations for manufacturers to claim credit on excise duties paid on inputs and capital goods used in manufacturing final products. The rules define terms such as 'capital goods,' 'inputs,' and 'exempted goods,' and specify conditions for availing and utilizing CENVAT credit. Credit can be transferred if a factory is relocated or ownership changes, and provisions exist for refunding credit on exported goods. The rules also address penalties for wrongful credit claims and mandate maintaining proper documentation and records. These rules were superseded by a subsequent notification in 2002.
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