NTF. NO. 39/2007-CE(N.T.), DT. 13/11/2007
- Document type
- Notification
- Reference no.
- II
- Dated
- Category
- Non-Tariff
Amendments in the CENVAT Credit Rules, 2004 (capital goods, on which CENVAT Credit)
Amendments in the CENVAT Credit Rules, 2004 (capital goods, on which CENVAT Credit)
1. (1) These rules may be called the CENVAT Credit (Tenth Amendment) Rules, 2007.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the CENVAT Credit Rules, 2004, in rule 3, in sub-rule (5), after the second proviso, the following proviso shall be inserted, namely:-
Provided also that if the capital goods, on which CENVAT Credit has been taken, are removed after being used, the manufacturer or provider of output service shall pay an amount equal to the CENVAT Credit taken on the said capital goods reduced by 2.5 per cent for each quarter of a year or part thereof from the date of taking the Cenvat Credit;.
[F.No. 267//01/2004-CX.8]
(Ashima Bansal)
Under Secretary to the Government of India