Amends Cenvat Credit Rules, 2004 – inserts new provision for deterrent measures where cenvat facility is misutilized

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....-Central Excise (N.T.) Dated: December 30, 2006 In exercise of the powers conferred by section 37 of the Central Excise Act, 1944 (1 of 1944) and section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the CENVAT Credit Rules,2004,namely:- 1. (1) These rules may be called the CENVAT Credit (SeventhAmendment) Rules, 2006. ....