TaxTMI 
TaxTMI 
Changes Made in Cenvat Credit Rules
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....hanges Made in Cenvat Credit Rules <br>News and Press Release<br>Dated:- 1-3-2008<br><BR>Sr.No. Changes Effective Date 1 Amendment in rule 2(l) - meaning of Input Services on availability of CENVA....
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....T Credit beyond the place of removal is settled. Now the credit will be admissible "up to the place of removal" only as against "from the place of removal". 1-4-2008 2 Definition of output service ....
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....tax has been amended to exclude GTA services 1-3-2008 3 Restriction on utilization of Cenvat Credit (other than NCCD) towards payment of NCCD 1-3-2008 4 Capital goods can be kept out of premises....
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.... for unlimited period without payment of duty or reversal of cenvat credit for the purpose of providing output taxable services 1-4-2008 5 Where the taxable and exempted services are being provided....
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.... together - provider of output services shall pay 8% of exempted services Alternatively Reverse the credit attributable to the inputs and input services used for providing exempted service, or manufac....
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....turing or exempted finished goods. 1-4-2008 6 Provisions for distribution of credit from one office to another office on Input and Capital Goods - Subject to that provisions applicable to First Sta....
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....ge Dealer and Second Dealer under Central Excise to be followed 1-4-2008 7 General Penalty where no specific penalty has been provided for is Rs. 5000 1-3-2008 - Notification No. 10/2008 CE(NT) d....
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....ated 1-3-2008 - Amended Cenvat Credit Rules<BR> News - Press release - PIB....