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Yashvant Mangal
(6 & 7 Oct, 2014)
(CENVAT Credit Rules, 2004)
IN/INS/CG
On these paid
Excise duty/customs
duty*/service tax (Rs.10)
(Rs. 100)
Avail the
CC (Rs. 10)
USED
Utilise this CC for payment of
Service provider
Used in providing
output service
Page
Manufacturer
WIRC of ICAI 2 Days Students Seminar on Indirect Taxation for CA Final By CA. Yashvant Mangal
(6 & 7 Oct, 2014)
(CENVAT Credit Rules, 2004)
Light diesel oil, high speed diesel oil or motor spirit commonly known as petrol, etc.;
Goods used in construction, except when used for providing construction services;
Capital goods except when used as parts or components in Mfr. Of final goods;
Motor vehicles;
Goods used primarily for personal use of employees;
Goods which no relationship whatsoever with the mfr. of final goods.
4.3 Input Services [Rule 2(l)]
Means any service
Page
WIRC of ICAI 2 Days Students Seminar on Indirect Taxation for CA Final By CA. Yashvant Mangal
(6 & 7 Oct, 2014)
(CENVAT Credit Rules, 2004)
Customs
Service Tax
BED
1. AED u/s 3(1)
SED
& EC & SHEC
ADE (GSI)
paid thereon
ADE (TTA) 2. ACD u/s 3(5)
ADE (TTW)
EC
SHEC
NCCD
ADE paid u/s 85 of FA, 2005
1. Service tax
2. EC
3. SHEC
4.8 CC on CG
1. Available when CG are received in the factory of Mfrr.
2. Available when CG are received at the place of providing OPS by SP.
3. Can be availed only upto 50% in the year of acquisition, remaining in any subsequent FY,
provided CG are in possession of assessee in such subsequent FY.
4. Removed of CG
Rule 3(5)
As Such (without use)
100% CC shall
be Reversed.
Rule 3 (5A)
Rule 3(5B)
(a) As CG
(b) As W&S
Proportionate CC
Duty on T.V.
Reverse CC
Avail CC when CG is used
or duty on
T.V., WIH.
Page
5. As per Rule 3(6), buyer can avail CC of amount reversed under Rule 3(5) & Rule 3(5A).
WIRC of ICAI 2 Days Students Seminar on Indirect Taxation for CA Final By CA. Yashvant Mangal
(6 & 7 Oct, 2014)
(CENVAT Credit Rules, 2004)
Page
4.17 Rule 8 Based on the nature of the IN and shortage of space in the factory, the AC/DC
may authorize mfrr to store IN in a warehouse outside the factory. Mfrr can avail CC on suc IN
when those are received in the warehouse.
WIRC of ICAI 2 Days Students Seminar on Indirect Taxation for CA Final By CA. Yashvant Mangal
(6 & 7 Oct, 2014)
(CENVAT Credit Rules, 2004)
Page
WIRC of ICAI 2 Days Students Seminar on Indirect Taxation for CA Final By CA. Yashvant Mangal
(6 & 7 Oct, 2014)
(CENVAT Credit Rules, 2004)
Page
WIRC of ICAI 2 Days Students Seminar on Indirect Taxation for CA Final By CA. Yashvant Mangal
(6 & 7 Oct, 2014)
(CENVAT Credit Rules, 2004)
Sec. 14AA
CC Audit
Page
Sec. 14A
Valuation Audit