Accounts and Returns for availing Cenvat Credit
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....shall lie upon the manufacturer or provider of output service taking such credit. Rule 9(6) The manufacturer of final products or the provider of output service shall maintain proper records for the receipt and consumption of the input services in which the relevant information regarding the value, tax paid, CENVAT credit taken and utilized, the person from whom the input service has been procured is recorded and the burden of proof regarding the admissibility of the CENVAT credit shall lie upon the manufacturer or provider of output service taking such credit. Rule 9(7) The manufacturer of final products shall submit within ten days from the close of each month to the Superintendent of Central Excise, a monthly return in the form specifi....
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....ice distributor referred to in sub-rule (10), as the case may be, may submit a revised return to correct a mistake or omission within a period of sixty days from the date of submission of the return under sub-rule (9) or sub-rule (10), as the case may be. ==================================== It is commonly believed that no records or documents have been prescribed by the Cenvat credit for the purpose of availing Credit. But it is not correct. Yes, the statutory format under the Cenvat Credit has not been prescribed but the information and details that are required to be maintained have been prescribed by the Rule 9 of the Cenvat Credit Rules. The required information / documents required to be maintained is being discussed as under: * ....
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....the manufacturer or provider of output service taking such credit. * Return to be filed by a Manufacturer - Rule 9(7) The manufacturer of final products shall submit within ten days from the close of each month to the Superintendent of Central Excise, a monthly return in the form specified, by notification, by the Board. In case manufacturer is availing exemption under a notification based on the value or quantity of clearances in a financial year, he shall file a quarterly return in the form specified, by notification, by the Board within ten days after the close of the quarter to which the return relates. Due dates for SSI units - within 10 days after the close of the quarter Due dates for non SSI units - within 10 days from the clo....