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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 has been framed on the same lines of input service distributor. This little article is about this new concept in the Central Excise Law. New Rule 7B in Cenvat Credit Rules, 2004:- After rule 7A of the CCR, the following rule 7 shall be inserted w.e. .....

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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 more factories. It is related to distribution of credit on inputs under a cover of excise invoice which are received by the warehouse. The credit will be allowed on the basis of invoice issued by warehouse of said manufacturer. The warehouse shall be .....

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