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RULE 7B OF CENVAT CREDIT RULES, 2004 – A NEW CONCEPT FOR MULTI-UNIT COMPANIES

Budget - By: - Pradeep Jain - Dated:- 5-3-2016 - Introduction:- Budget, 2016 has come up with some new provisions and concepts in the Central Excise Law. One such provision has been introduced in the name of rule 7B of Cenvat Credit Rules, 2004 which .....

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f. 1.4.2016:- ―7B. Distribution of credit on inputs by warehouse of manufacturer. - (1) A manufacturer having one or more factories, shall be allowed to take credit on inputs received under the cover of an invoice issued by a warehouse of the s .....

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applicable to a first stage dealer or a second stage dealer, shall, mutatis mutandis, apply to such warehouse of the manufacturer. Analysis of new Rule 7B:- This provision has following key features:- It is applicable on manufacturer having one or m .....

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required to follow the provisions as applicable to a first stage dealer or a second stage dealer. While winding:- At present, there is concept of input service distributor which distributes the credit on invoices of input services received by it. On .....

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chase inputs in bulk, however, at times it is not possible to exactly ascertain which unit will require how much quantity. Thus, there are cases where invoice is issued to the address of one unit while the inputs are actually utilized in some other u .....

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