Deemed Credit

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..... , 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 noti .....

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..... d 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 .....

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