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

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.... (NT)<br>GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 01/2016 - Central Excise (N.T) New Delhi, the 1^st February, 2016 G.S.R.132 (E).-   In exercise of the powers conferred by Section 37 of the Central Excise Act, 1944 (1 of 1944), the Central Government hereby makes the following rules further to amend the CENVAT Credit Rules, 2004, na....

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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