CENVAT credit entitlement for textile inputs expanded to allow immediate and transitional credit for job-worked and stock inputs. Amendments permit immediate CENVAT credit on inputs for specified yarns, fabrics and readymade garments when inputs are received by a principal for job-worked manufacture, protect job workers from denial of credit where goods are cleared without duty under rule 12B, allow endorsed documents from exempt or nil-rated activities to support credit despite changes in goods description, and introduce Rule 9A enabling transitional credit on inputs and inputs contained in finished textile goods lying in stock or process subject to declaration, documentary evidence, or notified calculation methods.
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Provisions expressly mentioned in the judgment/order text.
CENVAT credit entitlement for textile inputs expanded to allow immediate and transitional credit for job-worked and stock inputs.
Amendments permit immediate CENVAT credit on inputs for specified yarns, fabrics and readymade garments when inputs are received by a principal for job-worked manufacture, protect job workers from denial of credit where goods are cleared without duty under rule 12B, allow endorsed documents from exempt or nil-rated activities to support credit despite changes in goods description, and introduce Rule 9A enabling transitional credit on inputs and inputs contained in finished textile goods lying in stock or process subject to declaration, documentary evidence, or notified calculation methods.
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