TMI BlogAmendment to CENVAT Credit RulesX X X X Extracts X X X X X X X X Extracts X X X X ..... y be called the CENVAT Credit (Sixth Amendment) Rules, 2012. (2) They shall come into force on the 1 st day of July, 2012. 2. In the CENVAT Credit Rules, 2004 (hereinafter referred to as the said rules), in rule 2, (a) in clause (a), - (i) in sub-clause (A), in item(viii), after the words, their chassis the words but including dumpers and tippers shall be inserted; (ii) for sub-clause (B), the following sub-clause shall be substituted, namely:― (B) motor vehicle designed for transportation of goods including their chassis registered in the name of the service provider, when used for- (i) providing an output service of renting of such mot ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orks contract of a building or a civil structure or a part thereof; or (b) laying of foundation or making of structures for support of capital goods, except for the provision of service portion in the execution of a works contract or construction service as listed under clause (b) of section 66E of the Act; (d) in clause (l),- (i) for the words taxable service , the words output service shall be substituted; (ii) in sub-clause (ii), for the words but excludes services , the words but excludes shall be substituted; (iii) for sub-clause (A), the following sub-clause shall be substituted, namely:- (A) service portion in the execution of a works c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ble territory but shall not include a service,- (1) specified in section 66D of the Finance Act; or (2) where the whole of service tax is liable to be paid by the recipient of service. 3. In rule 3 of the said rules,- (a) in sub-rule (1),- (i) for the words, provider of taxable service , wherever they occur, the word provider of output service shall be substituted; (ii) after item (ixa), the following item shall be inserted, namely:- (ixb) the service tax leviable under section 66B of the Finance Act; , (iii) after item (xi), in item (i), for the words premises of the words by shall be substituted; (b) after sub- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rginal heading, for the words provider of taxable service the words, provider of output service shall be substituted; (ii) in sub-rule (3), after the second proviso, the following proviso shall be inserted, namely:- Provided that in case of transportation of goods or passengers by rail the amount required to be paid under clause (i) shall be an amount equal to 2 per cent. of value of the exempted services. (iii) in sub-rule (3A), in clauses (a), (b), (c) and (h), for the words taxable wherever they occur, the words, output shall be substituted; (iv) in sub-rule 3(B), for the words, brackets, letters and figures providing taxable service specified in sub-clause (zm) of clause (105) of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the purchase price of the securities traded or one per cent. of the purchase price of the securities traded, whichever is more. (e) shall not include the value of services by way of extending deposits, loans or advances in so far as the consideration is represented by way of interest or discount; (vi) for sub-rule (6A), the following sub-rules shall be inserted, namely:- (7) The provisions of sub-rules (1), (2), (3) and (4) shall not be applicable in case the taxable services are provided, without payment of service tax, to a unit in a Special Economic Zone or to a developer of a Special Economic Zone for their authorised operations or when a service is exported, (8) For the purpose of this ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e any total turnover in the said period, the input service distributor shall distribute any credit only after the end of such relevant period wherein the total turnover of its units is available. 8. In the said rules, in rule 9, in sub-rule (2), in the proviso, for the words, provider of taxable service , the words provider of output service shall be substituted; 9. In the said rules, in rule 13, for the words taxable service wherever they occur, the words, output service shall be substituted. [F. No. 334/1/2012-TRU] (Raj Kumar Digvijay ..... X X X X Extracts X X X X X X X X Extracts X X X X
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