Deemed Credit - Cenvat Credit - Ready Reckoner [OLD] - Cenvat Credit

Chapter 19 Deemed Credit Statutory Provisions: Rule 13 of the Cenvat Credit Rules, 2004 Power of Central Government to notify goods for deemed CENVAT credit.- Notwithstanding anything contained in rule 3, the Central Government may, by notification, declare the input or input service on which the duties of excise, or additional duty of customs or service tax paid, shall be deemed to have been paid at such rate or equivalent to such amount as may be specified in that notification and allow CENVAT credit of such duty or tax deemed to have been paid in such manner and subject to such conditions as may be specified in that notification even if, in the case of input, the declared input, or in the case of input service, the declared input service, as the case may be, is not used directly by the manufacturer of final products, or as the case may be, by the provider of output service, declared in that notification, but contained in the said final products, or as the case may be, used in providing the outputservice. ========================= Power of CG to provide relief Manufacturer or Service Provider who receives input or input service without proper documents Some times to provide some relief to the manufacturer or service provider who ordinarily receive the goods / services without duty paying documents but involves some duty, the Cenvat Government declare the rate of deemed credit on such specified goods. Whenever the deemed credit is prescribes, the manufacturer or provider of output service shall be entitled to avail the credit equal to prescribed rate on declared inputs, irrespective of the actual amount of duty paid on such deemed inputs or deemed input services . However, at present there is no deemed credit is available on any inputs or input services.