Category: Cenvat Credit

Other Provision Cenvat Credit

Transfer of CENVAT Credit (Rule 10) – If a manufacturer of the final products shifts his factory to another site or the factory is transferred on account of change in ownership or on account...

Input Service for Cenvat

Input Service Manufacturer as well as service provider will be eligible to get Cenvat credit of ‘input services’. Rule 2(1) of Cenvat Credit Rules reads as follows – (i) Insofar as a service provider...

Highlights of Cenvat Credit Scheme

General highlights of the scheme are as follows : Credit of duty paid on input and input services The Cenvat scheme is principally based on system of granting credit of duty paid on inputs...

Overview and definition under Cenvat Credit Rules, 2004

  Rule No. Brief Comments 2(d) ‘Exempted goods’ means goods which are exempt from whole of duty of excise leviable thereon and includes goods which are chargeable to ‘Nil’ rate of duty. 2(e) “Exempted...

Background of Cenvat Credit

Excise and Service tax are central taxes, expected to be consumption based taxes to the extent practicable. Till the goods or service is finally consumed, the burden of excise duty and service tax is...