Introduction - Cenvat Credit Scheme - Cenvat Credit - Ready Reckoner [OLD] - Cenvat Credit

Introduction CENVAT Credit Rules, 2004 (hereinafter referred to the 'CENVAT Credit Rules') have been notified vide Notification No. 23/2004-CE (N.T.) dated 10th September, 2004 as separate set of rules. A beginning has been made to introduce the concept of allowing credit of duty paid on inputs and capital goods and service tax paid on input services used for the manufacture of final products and providing out put services. These rules have introduced simplified CENVAT provisions and procedures for allowing credit of duty paid on specified inputs, capital goods and input services used in or in relation to the manufacture of specified final products, whether directly or indirectly and whether contained in the final product or not (inputs) and used (capital goods) in the factory of the manufacture of the final product. Similarly, the credit of duty paid on specified inputs, capital goods and input services used for providing output services have been allowed. The credit of duty so allowed can be utilized for payment of duty leviable on the final product subject to the conditions laid down in the rules