https://www.taxtmi.com/article/detailed?id=6554 The article identifies uncertainty arising from exemption of Education Cess and SHE Cess and later prospective amendments to the Cenvat Credit Rules that permit utilisation of cess paid on inputs, capital goods and input services received after specified dates, while leaving pre-existing opening balances unclarified. This has caused inability to utilise credits in earlier returns, potential show-cause notices where credits were availed on presumption, complications in credit reconciliation because opening balances are treated as utilised first, and unequal treatment between manufacturers and service providers. The author calls for administrative clarification permitting utilisation of those opening balances. en-us Tue, 01 Dec 2015 11:15:12 +0530 Tue, 01 Dec 2015 11:15:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6554 The article identifies uncertainty arising from exemption of Education Cess and SHE Cess and later prospective amendments to the Cenvat Credit Rules that permit utilisation of cess paid on inputs, capital goods and input services received after specified dates, while leaving pre-existing opening balances unclarified. This has caused inability to utilise credits in earlier returns, potential show-cause notices where credits were availed on presumption, complications in credit reconciliation because opening balances are treated as utilised first, and unequal treatment between manufacturers and service providers. The author calls for administrative clarification permitting utilisation of those opening balances. Articles Cenvat Credit Tue, 01 Dec 2015 11:15:12 +0530 https://www.taxtmi.com/article/detailed?id=6554