Cenvat credit declaration prescribes calculation method and applicable rates for inputs and finished goods in stock. Declaration under sub-rule (3) of rule 9A of the CENVAT Credit Rules, 2002 fixes CENVAT credit amounts for inputs in stock or in process and for inputs in finished goods in stock by prescribing per unit credit for specified yarn, and by applying deemed or declared value multiplied by the rate of duty or specified percentages of that rate for other yarns, fabrics and articles; it defines deemed value by a formula and specifies the meaning of rate of duty and composite mill.
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Provisions expressly mentioned in the judgment/order text.
Cenvat credit declaration prescribes calculation method and applicable rates for inputs and finished goods in stock.
Declaration under sub-rule (3) of rule 9A of the CENVAT Credit Rules, 2002 fixes CENVAT credit amounts for inputs in stock or in process and for inputs in finished goods in stock by prescribing per unit credit for specified yarn, and by applying deemed or declared value multiplied by the rate of duty or specified percentages of that rate for other yarns, fabrics and articles; it defines deemed value by a formula and specifies the meaning of rate of duty and composite mill.
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