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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>CENVAT Credit Rules Amended: New Definitions and Provisions for Manufacturers, Immediate Input Credit, and Stock Calculations</h1> The Central Government has amended the CENVAT Credit Rules, 2002, effective upon publication in the Official Gazette. Key changes include redefining 'manufacturer' to include those liable for excise duty on yarns, fabrics, and garments under specific chapters of the Tariff Act. CENVAT credit on inputs for these goods can be claimed immediately upon receipt, subject to conditions. Job workers will not be denied credit for inputs used in duty-free goods. New provisions allow credit for duty paid on inputs in stock as of March 31, 2003, with specific calculation methods outlined for different scenarios.
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