Amendment in CENVAT Credit Rules, 2004 - the provision restricting CENVAT credit to 85% under proviso to rule 3(i)(vii) of Cenvat Credit Rule, 2004 deleted. - Consequently ship breaking units would be entitled to avail 100% credit of the CVD paid with effect from 01.03.2015

Amendment in CENVAT Credit Rules, 2004 - the provision restricting CENVAT credit to 85% under proviso to rule 3(i)(vii) of Cenvat Credit Rule, 2004 deleted. - Consequently ship breaking units would be entitled to avail 100% credit of the CVD paid with effect from 01.03.2015 https://www.taxtmi.com/notifications?id=118746 The proviso to rule 3(1)(vii) of the CENVAT Credit Rules, 2004 is omitted by the CENVAT Credit (First Amendment) Rules, 2016, effective from 1 March 2015, thereby allowing ship breaking units to claim the full credit of countervailing duty paid on inputs and input services where the proviso had previously limited the availment of credit. en-us Mon, 01 Feb 2016 00:00:00 +0530 Tue, 02 Feb 2016 17:03:00 +0530 TaxTMI RSS Generator Amendment in CENVAT Credit Rules, 2004 - the provision restricting CENVAT credit to 85% under proviso to rule 3(i)(vii) of Cenvat Credit Rule, 2004 deleted. - Consequently ship breaking units would be entitled to avail 100% credit of the CVD paid with effect from 01.03.2015 https://www.taxtmi.com/notifications?id=118746 The proviso to rule 3(1)(vii) of the CENVAT Credit Rules, 2004 is omitted by the CENVAT Credit (First Amendment) Rules, 2016, effective from 1 March 2015, thereby allowing ship breaking units to claim the full credit of countervailing duty paid on inputs and input services where the proviso had previously limited the availment of credit. Notifications Central Excise Mon, 01 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/notifications?id=118746