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CENVAT CREDIT RULES, 2017 PART I

Cenvat Credit - By: - Mr.M. GOVINDARAJAN - Dated:- 17-7-2017 Last Replied Date:- 18-7-2017 - Introduction Since GST was implemented with effect from 01.07.2017, the Central Government, in supersession of CENVAT Credit Rules, 2004 made CENVAT Credit Rules, 2017 with effect from 01.01.2017. These Rules are applicable to the whole of India. Many changes have been brought in these rules than the erstwhile CENVAT Credit Rules, 2017. The definitions of the term input service , capital goods are not f .....

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the duty of excise as specified under clauses (a) and (b); the additional duty leviable under section 3(5) of the Customs Tariff Act; the additional duty of excise leviable under Section 85 of Finance Act, 2005 paid on any input received in the factory of manufacture of final product on or after 01.07.2017 including the said duties paid on any inputs used in the manufacture of intermediate products, by a job worker availing the benefit of exemption specified in the Notification No.214/86, dated .....

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al products shall be allowed to take CENVAT credit of the duty paid on inputs lying in stock or in process or inputs contained in the final products lying in stock on the date on which any goods manufactured by the said manufacturer or producer cease to be exempted goods or any goods becomes excisable. Utilization of credit Rule 3(4) provides that the CENVAT credit may be utilized for payment of- any duty of excise on any final product; or an amount equal to CENVAT credit taken on inputs if such .....

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nder section 136 of Finance Act, 2001. Likewise the credit of any duty mentioned in Rule 3(1), other than the credit of additional duty of excise leviable under section 85 of Finance Act, 2005 shall not be utilized for payment of said additional duty of excise on final products. Rule 3(4) provides that the credit in respect of- the National Calamity Contingent duty leviable under section 136 of Finance Act, 2001; the additional duty leviable under section 3 of the Customs Tariff Act, equivalent .....

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after being partially processed. Conditions for allowing CENVAT credit Rule 6 provides the conditions for allowing credit as detailed below- the credit may be taken immediately on receipt of inputs in the factory of the manufacturer or in the premises of the job works, in case of goods are sent directly to the job worker on the direction of the manufacturer; the manufacturer shall not take credit after one year of the date of issue of any of the documents specified in Rule 11(1); the credit on i .....

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of the manufacturer and in such a case the period of 180 days shall be counted from the date of receipt of the inputs by the job worker; if the inputs or products are not received within 180 days th4 credit shall be reversed; the manufacturer may taken credit again when the inputs are received back in the factory; if the inputs are sent to a job worker by an order of theDy. Commissioner/Assistant Commissioner of Central Excise, having jurisdiction, by an order, the period shall be valid for thre .....

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ses from where the goods are sold by or on behalf of the said manufacturer; inputs as such; an importer; an importer from his depot or from the premises of the consignment agent of the said importer if the said depot or the premises is registered under central excise rules; a supplementary invoice issued by a manufacturer or importer of inputs from his factory or depot or from the premises of the consignment agent of the said manufacturer or importer or from any other premises from wherethe good .....

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Act or the rules made there under with intent to evade payment of duty; a bill of entry; a certificate issued by an appraiser of customs in respect of goods imported through a foreign post office or an authorized Courier, registered with the Principal Commissioner of Customs or the Commissioner of Customs in charge of the Customs Airport, as the case may be; The credit of additional duty of customs levied shall not be allowed if the invoice or supplementary invoice bears an indication to the eff .....

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ouse or premises of first or second stage dealers and if the Deputy/Assistant Commissioner of Central Excise, is satisfied that the goods covered by the said document have been received and accounted for in the books of the account of the receiver he may allow the credit. Records Rule 11(3) provides that the credit in respect of input purchased from a first stage dealer or second stage dealer shall be allowed only if such first stage dealer or the second stage dealer has maintained records indic .....

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procured is recorded and the burden of proof regarding the admissibility of credit shall be upon the manufacturer taking such credit. Reversal of credit Rule 4 provides that when an inputs on which credit has been taken, are removed from the factory, the manufacturer of the final products the credit shall be reversed. The amount paid shall be eligible as credit as if, it was a duty paid by the person who removed such goods. If any value is written off fully or partially or where any provision to .....

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notification provide for grant of whole or part exemption of non availability of credit of duty paid on any input, if the credit of duty paid on input is availed, the reversal of such credit after clearance of the goods shall render the manufacturer eligible for the exemption. Distribution of credit Rule 9 provides that 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 said manufacturer, who .....

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ns and conditions as he may specify. If such input is not used in the manner specified in these rules for any reason, whatsoever, the manufacturer of the final product shall pay an amount equal to the credit availed in respect of such input. Refund of credit Rule 7 provides that a manufacturer who clears a final product or an intermediate product for export without payment of duty under bond or letter of undertaking, shall be allowed refund of credit as determined by the following formula, subje .....

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intermediate products cleared during the relevant period and exported without payment of Central Excise duty under bond or letter of undertaking; Total turnover means sum total of the value of- all excisable goods cleared during the relevant period including exempted goods, dutiable goods and excisable goods exported; all inputs removed as such against an invoice, during the period for which the claim is filed. No refund shall be allowed if the manufacturers avails the drawback allowed under th .....

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