https://www.taxtmi.com/article/detailed?id=5268 The Supreme Court held that the rule requires a manufacturer of final products to exercise reasonable care - not departmental verification - that inputs are accompanied by documents indicating appropriate excise duty paid; where inputs are obtained directly from the manufacturer with declarations and correct invoices, and the buyer follows the prescribed procedure and maintains required records, Cenvat/MODVAT credit cannot be denied solely because the supplier later failed to discharge full duty. The Cenvat Credit rules place the burden of proof on the manufacturer to maintain records evidencing value, duty/tax paid and supplier identity. en-us Fri, 06 Sep 2013 13:18:35 +0530 Fri, 06 Sep 2013 13:18:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5268 The Supreme Court held that the rule requires a manufacturer of final products to exercise reasonable care - not departmental verification - that inputs are accompanied by documents indicating appropriate excise duty paid; where inputs are obtained directly from the manufacturer with declarations and correct invoices, and the buyer follows the prescribed procedure and maintains required records, Cenvat/MODVAT credit cannot be denied solely because the supplier later failed to discharge full duty. The Cenvat Credit rules place the burden of proof on the manufacturer to maintain records evidencing value, duty/tax paid and supplier identity. Articles Cenvat Credit Fri, 06 Sep 2013 13:18:35 +0530 https://www.taxtmi.com/article/detailed?id=5268