Cenvat

Introduction:- Budget, 2016 has come up with some new provisions and concepts in the Central Excise Law. One such provision has been introduced in the name of rule 7B of Central Excise Rules, 2004 which has been framed on the same lines of input service distributor. This little article is about this new concept in … Read more

Input Tax Credit under Service Tax is allowed as per Cenvat Credit Rules, 2004 (CCR, 2004). Service tax credit rules have been drawn from CCR replacing the previous Cenvat Credit Rules, 2002 and Service Tax Credit Rules, 2002. This discussion deals with provisions applicable only to service provider. Some important definitions Capital goods As per … Read more