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Draft Rule for issue of Credit Transfer Document to be inserted in the CENVAT Credit Rules, 2004 for transfer of cenvat credit paid on specified goods available with a trader as on appointed date

Rule 1 - Final Rules (Draft) - Issue of Credit Transfer Document - Issue of Credit Transfer Document to be inserted in the CENVAT Credit Rules, 2004 - Rule 1 - A.(1) A manufacturer who was registered under Central Excise Act, 1944 (hereafter referred .....

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date on which CGST Act, 2017 comes into force, under the cover of an invoice issued to a person who was not registered under the Central Excise Act, 1944 but is registered under the provisions of CGST Act, 2017 (hereafter referred to as dealer in th .....

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entifiable as a distinct number such as chassis / engine no. of a car. (ii) Verifiable records of clearance and duty payment relatable to each piece of such goods is maintained by the manufacturer and are made available for verification on demand by .....

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t is issued, description, classification, invoice number with date of removal, mode of transport and vehicle registration number, rate of duty, quantity, value and duty of excise specified in the First Schedule to the Central Excise Tariff Act, 1985 .....

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days of the appointed date on which CGST Act, 2017 comes into force and copy of the corresponding invoices shall be enclosed with the Credit Transfer Document. (vi) Copies of all invoices relating to buying and selling from manufacturer to the deale .....

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g Credit Transfer Document on manufactured goods shall not be eligible to avail credit under provision of rule 1(4) of Transition Rules made under CGST Act, 2017 on identical goods manufactured by the same manufacturer available in the stock of the d .....

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t, 2017. (2) Where a manufacturer issues a Credit Transfer Document such that credit of central tax is availed twice on the same goods under the provisions of CGST Act, 2017 and the rules made thereunder, he shall be jointly and severally responsible .....

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