TMI BlogSeeks to amend Cenvat Credit Rules, 2004X X X X Extracts X X X X X X X X Extracts X X X X ..... hese rules may be called the CENVAT Credit (Amendment) Rules, 2015. (2) Save as otherwise provided in these rules, they shall come into force on the 1 1 day of March, 2015. In the CENVAT Credit Rules, 2004 (hereinafter referred to as the said rules), in rule 4, - in sub-rule (1), - (i) after the words the provider of output service , occurring at the end and before the first proviso, the words or in the premises of the job worker, in case goods are sent directly to the job worker on the direction of the manufacturer or the provider of output service, as the case may be, shall be inserted; (ii) in the third proviso, for the words six months , the words one year shall be substituted; in sub-rule (2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eighty days shall be counted from the date of receipt of the inputs by the job worker; the CENVAT credit on capital goods shall be allowed even if any capital goods as such are sent to a job worker for further processing, testing, repair, re-conditioning or for the manufacture of intermediate goods necessary for the manufacture of final products or any other purpose, and it is established from the records, challans or memos or any other document produced by the manufacturer or the provider of output service taking the CENVAT credit that the capital goods are received back by the manufacturer or the provider of output service, as the case may be, within two years of their being so sent: Provided that credit shall be allowed even i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the invoice, bill or, as the case may be, challan referred to in rule 9 is not made within three months of the date of the invoice, bill or, as the case may be, challan, the manufacturer or the service provider who has taken credit on such input service, shall pay an amount equal to the CENVAT credit availed on such input service, except an amount equal to the CENVAT credit of the tax that is paid by the manufacturer or the service provider as reci pi ent of service, and in case the said payment is made, the manufacturer or output service provider, as the case may be, shall be entitled to take the credit of the amount equivalent to the CENVAT credit paid earlier subject to the other provisions of these rules: in the sixth p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e words suspension of registration in case of , the words an importer or shalI be inserted. 7. In the said rules, for rule 14 , the following rule shall be substituted, namely:- 14. Recovery of CENVAT credit wrongly taken or erroneously refunded. - (1) (i) Where the CENVAT credit has been taken wrongly but not utilised, the same shall be recovered from the manufacturer or the provider of output service, as the case may be, and the provisions of section 11A of the Excise Act or section 73 of the Finance Act, 1994 (32 of 1994) , as the case may be, shall apply mutatis mutandis for effecting such recoveries; (ii) Where the CENVAT credit has been taken and utilised wrongly or has been erroneously refunded, the same ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s and letters clause (c), clause (d) or clause (e) of sub-section (1) of section 11AC of the Excise Act . shall be substituted; in sub-rule (3), for the words and figures penalty in terms of the provisions of section 78 , the words brackets and figures penalty in terms of the provisions of sub-section (1) of section 78 shall be substituted. [F. No. 334/5/2015-TRU] (A kshay Joshi) Under Secretary to the Government of India Note.- The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide notification No. 23/2004 - Central Excise (N.T.) dated the 10 th September, 2004 vide number G.S.R. 600(E) dated the 10 th September, 2004 and last amended ..... X X X X Extracts X X X X X X X X Extracts X X X X
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