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TMI BlogChanges Made in Cenvat Credit RulesX X X X Extracts X X X X X X X X Extracts X X X X ..... Changes Made in Cenvat Credit Rules - Commentaries / Editorials Dated:- 1-3-2008 - News - Sr.No. Changes Effective Date 1 Amendment in rule 2(l) - meaning of Input Services on availability of CENVAT Credit beyond the place of removal is settled. Now the credit will be admissible "up to the place of removal" only as against "from the place of removal". ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1-4-2008 2 Definition of output service tax has been amended to exclude GTA services 1-3-2008 3 Restriction on utilization of Cenvat Credit (other than NCCD) towards payment of NCCD 1-3-2008 4 Capital goods can be kept out of premises for unlimited period without payment of duty or reversal of cenvat credit for the purpose of providing output tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... able services 1-4-2008 5 Where the taxable and exempted services are being provided together - provider of output services shall pay 8% of exempted services Alternatively Reverse the credit attributable to the inputs and input services used for providing exempted service, or manufacturing or exempted finished goods. 1-4-2008 6 Provisions for distribution of cred ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it from one office to another office on Input and Capital Goods - Subject to that provisions applicable to First Stage Dealer and Second Dealer under Central Excise to be followed 1-4-2008 7 General Penalty where no specific penalty has been provided for is Rs. 5000 1-3-2008 - Notification No. 10/2008 CE(NT) dated 1-3-2008 - Amended Cenvat Credit Rules - Ne ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ws - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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