CENVAT credit eligibility expanded for textile and made up articles; endorsed documentary transfers preserve input credit rights. Amendments broaden covered textile goods to include made up textile articles and replace rule 7(1)(e) to allow CENVAT credit where specified documents issued in the name of persons engaged in purchase, sale or manufacture of such textiles-including activities exempt, nil-rated, or not amounting to manufacture-are endorsed in full for the entire consignment to another manufacturer, producer or dealer; recipients shall not be denied credit solely because the goods' description changed. Rule 9A allows credit calculation by rates or in such manner, treats inputs in garments or fabrics in stock for credit, and requires the prescribed declaration by the stated deadline.
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CENVAT credit eligibility expanded for textile and made up articles; endorsed documentary transfers preserve input credit rights.
Amendments broaden covered textile goods to include made up textile articles and replace rule 7(1)(e) to allow CENVAT credit where specified documents issued in the name of persons engaged in purchase, sale or manufacture of such textiles-including activities exempt, nil-rated, or not amounting to manufacture-are endorsed in full for the entire consignment to another manufacturer, producer or dealer; recipients shall not be denied credit solely because the goods' description changed. Rule 9A allows credit calculation by rates or in such manner, treats inputs in garments or fabrics in stock for credit, and requires the prescribed declaration by the stated deadline.
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