What is Rule 3(5) of CENVAT Rules?
Thanks in advance..
P.Bashista
(Advocate)
(367 Points)
Replied 13 October 2009
You are looking for the copy of the Rule or the interpretation of the Rule??
If you are looking for the copy of the Rule, it is as follows:
nitin
(article)
(27 Points)
Replied 16 October 2009
in simple wrds
jab bhi asey INPUTS, CAPITAL GOODS,(X NO INPUT SRVICES X)
jinki purchase par cenvat credit book kiya gya h
ko "AS SUCH " ya " PARTLY PROCESSING" k baad factory se remove(only under invoice)kiya jata h to
manufacturer ko utni hi amont vapis pay krni hoti h jitna vo in input, capital goods pe removal tak cenvet credit avail(book) kr chuka h. {chahe vo credit usne use na kiya ho}
main object behind this section taaki cenvat credit ka benefit vahi manufacturer avail kr sken jo input ya capital goods jinpe ccr. mila h ko purchase krne k baad use bhi krta h, agar vo inko after taking ccr sale kr deta h to usey ccr. ko bhi vapis krna chahiye. ok ji.
ccr. means cenvat credit
samajh aye to btana
na aye to bhi btana