CENVAT CREDIT

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CENVAT CREDIT
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Basic Features

• Concept of Cenvat credit.

• Landmarks 1986, 1994 2004.

• Cenvat Credit Rules, 2004.

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Applicability

• Manufacturers.

• Service providers.

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Certain terms.

• Input.

• Capital goods.

• Input Services.

• Input Service Distributor.

• First / Second stage dealer.

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Cenvattable duties / taxes

• Basic Excise Duty.

• CVD.

• NCCD.

• Education CESS.

• Addl. Duty of Customs Sec. 3(5).

• Service Tax and CESS thereon.

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Utilisation and Restrictions on utilisation

• Payment of Excise duty.

• Payment of Service tax.

• Other payments.

• Cross utilisation.

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Other conditions.

• Capital goods 50 restriction.

• No to having the cake and eating it too
• - Depreciation / Cenvat Credit.

• Removal of inputs / capital goods
• - the story as such.

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Other conditions.

• Removal for job work.

• Write off.

• Service Tax Credit - Pay and use.

• Documents for availing credit.

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Rule 6 Algebra.

• Position upto 31.03.2008.

• Position from 01.04.2008.

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Rule 6.

• Protection to certain clearances.

• Protected Services.

• Chandrapur Magnet Wires (P) Ltd Vs CCE.
• 1996 (81) ELT 3 SC
• - Recent developments.

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Certain common disputes

• Credit for mobile phone.
• India Rayon Industries Ltd. Vs CCE
• 2006 (4) STR 79.

• Credit for outdoor catering.
• CCE Vs GTC Industries.
• 2008 TIOL 1634.

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Certain common disputes

• Credit for outward transportation.

Recent LB decision and its impact.
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