TaxTMI 
TaxTMI 
Amends Cenvat Credit Rules, 2004
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....bsp; (A) in item (vi), the word "and" occurring at the end, shall be omitted; (B) in item (vii), for the words "storage tank," , the words "storage tank; and" shall be substituted; (C) after item (vii),as so amended, the following item shall be inserted, namely:- "(viii) motor vehicles other than those falling under tariff headings 8702, 8703, 8704, 8711 and their chassis,"; (ii) in sub-clause (B), after the words ― "motor vehicle", the words and figures ― "falling under tariff headings 8702, 8703, 8704, 8711 and their chassis," shall be inserted; (iii) for sub-clause (D), the following sub-clause shall be substituted, namely:- ....
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....r: Provided that if the amount so calculated is less than the amount equal to the duty leviable on transaction value, the amount to be paid shall be equal to the duty leviable on transaction value.". 4. In rule 4 of the said rules,- (a) in sub-rule (1), after the first proviso, the following proviso shall be inserted, namely:- "Provided further that the CENVAT credit in respect of inputs may be taken by the provider of output service when the inputs are delivered to such provider, subject to maintenance of documentary evidence of delivery and location of the inputs."; (b) in sub-rule 2, in clause (a), after the third proviso, the following proviso shall be inserted, namely:- "Provided also that the CENVAT credit in respect of capital goods may be taken by the provider of output service when the capital goods are delivered to such provider, subject to maintenance of documentary evidence of delivery and location of the ....
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....e value of the export service calculated in the following manner, namely:- Export turnover of services = payments received during the relevant period for export services + export services whose provision has been completed for which payment had been received in advance in any period prior to the relevant period - advances received for export services for which the provision of service has not been completed during the relevant period; (E) "Total turnover" means sum total of the value of - (a) all excisable goods cleared during the relevant period including exempted goods, dutiable goods and excisable goods exported; (b) export turnover of services determined in terms of clause (D) of sub-rule (1....
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.... after sub-rule (3D), - (i) in Explanation I, in clause (b), for the brackets figures and letter "(7), (7B)", the brackets, figures and letters "(7),(7A),(7B)" shall be substituted; (ii) in Explanations II and III, for the brackets, figures ,letters and word ", (3B) and (3C)" wherever they occur, the word, brackets, figure and letter "and (3B)" shall be substituted 7. For rule 7 of the said rules, the following rule shall be substituted, namely:- "7. Manner of distribution of credit by input service distributor. - The input service distributor may distribute the CENVAT credit in respect of the service tax paid on the input service to its manufacturing units or units providing output service, subject to the following conditions, namely:- (a) the credit distributed against a document referred to in rule 9 does not exceed the amount of service tax paid thereon; (b) credit of service ta....
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....d receiving such credit, the amount of credit transferred and the particulars of such entry as mentioned in clause (i), and such recipient premises may take CENVAT credit on the basis of the transfer challan: Provided that nothing contained in this sub-rule shall apply if the transferring and recipient registered premises are availing the benefit of the following notifications of the Government of India in the Ministry of Finance (Department of Revenue), namely:- (i) No. 32/99-Central Excise, dated the 8th July, 1999 [G.S.R. 508(E), dated the 8th July, 1999]; (ii) No. 33/99-Central Excise, dated the 8th July, 1999 [G.S.R. 509(E), dated the 8th July, 1999]; (iii) No. 39/2001-Central Excise, dated the 31st July, 2001 [G.S.R. 565 (E), dated the 31st July, 2001]; (iv) No. 56/2002-Central Excise, dated the 14th November, 2002 [G.S.R. 764(E), dated the 14th November, 2002]; (v) No. 57/2002-Central Excise, dated the 14th November, 2002 [G.S.R.. 765(E), dated the 14th November, 2002]; (vi) No. 56/2003-Central Excise, dated the 25th June, 2003 [G.S.R. 513 (E), dated the 25th June, 2003]; (vii) ....