https://www.taxtmi.com/circulars?id=7322 Interest on delayed refund of amounts deposited under appeal is permissible under the refund-interest provision inserted by recent finance legislation. Rule 3(2) of the Works Contract Composition Scheme bars CENVAT credit on inputs for contracts under composition but does not preclude CENVAT credit on input services or capital goods; the Ministry issued a clarificatory circular. CENVAT credit on capital goods received in a given financial year is limited to fifty percent of duty paid for that financial year, and policy matters must be referred to the Board or designated divisional contacts. en-us Thu, 25 Jun 2009 00:00:00 +0530 Fri, 06 Jan 2012 15:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=7322 Interest on delayed refund of amounts deposited under appeal is permissible under the refund-interest provision inserted by recent finance legislation. Rule 3(2) of the Works Contract Composition Scheme bars CENVAT credit on inputs for contracts under composition but does not preclude CENVAT credit on input services or capital goods; the Ministry issued a clarificatory circular. CENVAT credit on capital goods received in a given financial year is limited to fifty percent of duty paid for that financial year, and policy matters must be referred to the Board or designated divisional contacts. Circulars Service Tax Thu, 25 Jun 2009 00:00:00 +0530 https://www.taxtmi.com/circulars?id=7322