union budget 2016 central excise & cenvat proposals€¦ · union budget 2016 central excise...

UNION BUDGET 2016 CENTRAL EXCISE & CENVAT PROPOSALS

2016


1 © S.K.KANODIA & ASSOCIATES

CONTENTS

Preface…………………………………………………………...................... 2

Effective Date for Various Changes……………………………………....... 3

Central Excise……………………………………………………..............

Legislative Changes………………………………………………………… 4-13

Cenvat Credit Rules, 2004…………………………………………………. 14-22



PREFACE

Dear Readers,

Budget 2016 has been a agriculture as well as farmer oriented budget. The Hon’ble Finance Minister

has provided many things for the farmers. On the indirect tax front, especially service tax and cenvat

credit, a lot of procedural changes have been done. A new levy in the name of Krishi Kalyan Cess has

been introduced. A dispute resolution system in indirect tax has been formulated. Many new

exemptions has been introduced in the exemption notification. MAKE In INDIA concept has been

favoured with many excise and customs rates being rationalized along with excise procedures.

The intent of legislature has been clarified by amending Rule 6 of the Cenvat Credit Rules, 2004. All

these are welcome step in the reforms of taxation. However, no update as to GST has been provided

and it seems that the GST road is still far away. One needs to wait and watch till further updates are

provided.

As with every Budget, there are numerous questions which can be answered only on the fine reading of

the budget papers. Please revert with your comments and questions. We would try our best to help you

with any Budget related issues as per our interpretation of the same.

Thank you for your support and faith in our firm.

Best Regards,

Ankit Kanodia| Partner- Indirect Tax & Regulatory



EFFECTIVE DATE FOR VARIOUS CHANGES

Particulars Effective date of change

Legislative changes in Customs and Excise Date of enactment of Finance Bill, 2016, unless

otherwise specified

Changes to declared list and negative list Date of enactment of Finance Bill, 2016, unless

otherwise specified

Amendments to CENVAT Credit Rules,

2004 (Other than those specified in the

relevant Notifications)

March 1, 2016, unless otherwise specified

New rates of Customs Duty March 1, 2016

New rates of Excise Duty March 1, 2016 [Retrospective amendments shall

have the force of law only upon enactment of the

Finance Bill, 2016 but with effect from the

specific date indicated]

Krishi Kalyan Cess Wef 01/06/2016



CENTRAL EXCISE

A. LEGISLATIVE CHANGES

1. Amendments to Central Excise Rules, 2002

The following amendments have been made in the CE Rules, 2002:

SL. NO.

SECTION/RULE

DETAIL BEFORE AMENDMENT

AFTER AMENDMENT W.E.F REMARKS

1 rule 7, for sub-rule (4) of central excise rules

The assessee shall be liable to pay interest on any amount payable to Central Government, consequent to order for final assessment under sub-rule (3), at the rate specified by the Central Government by notification issued under section 11AA [ * * * * ] of the Act from the first day of the month succeeding the month for which such amount is determined, till the date of payment thereof.

The assessee shall be liable to pay interest on any amount paid or payable on the goods under provisional assessment, but not paid on the due date specified under sub-rule (1) of rule 8 and the first proviso thereto, as the case may be, at the rate specified by the Central Government, vide, notification under section 11AA of the Act, for the period starting with the first day after the due date till the date of actual payment, whether such amount is paid before or after the issue of order for final assessment. (Substituted)

1st March 2016

The process for calculation of interest in case of provisional assessment has been overhauled and it will be calculated form the due date of payment of duty till the date of actual payment.

2 rule 8, in the

For the purposes of this proviso, it is hereby

For the removal of doubts, it is hereby clarified that,-

1st April 2016

New SSI limits for



second proviso, for Explanation -1

clarified that an assessee shall be eligible, if his aggregate value of clearances of all excisable goods for home consumption in the preceding financial year, computed in the manner specified in the said notification, did not exceed rupees four hundred lakhs.

(a) an assessee, engaged in the manufacture or production of articles of jewellery, other than articles of silver jewellery but inclusive of articles of silver jewellery studded with diamond, ruby, emerald or sapphire, falling under chapter heading 7113 of the First Schedule of the Tariff Act shall be eligible, if his aggregate value of clearances of all excisable goods for home consumption in the preceding financial year, computed in the manner specified in the said notification, did not exceed rupees twelve crore; (b) an assessee, other than (a) above, shall be eligible, if his aggregate value of clearances of all excisable goods for home consumption in the preceding financial year, computed in the manner specified in the said notification, did not exceed rupees four hundred lakhs.” (Substituted)

certain classes of jewellery manufacturers have been prescribed.

3 rule 11, in sub-rule (8), in the proviso

An invoice issued under this rule by a manufacturer may be authenticated by means of a digital signature. Provided that where the duplicate copy of the invoice meant for transporter is digitally signed, a hard copy of the duplicate copy of the

An invoice issued under this rule by a manufacturer may be authenticated by means of a digital signature. Provided that where the duplicate copy of the invoice meant for transporter is digitally signed, a hard copy of the duplicate copy of the invoice meant for transporter shall be used for transport of

1st April, 2016

The self assesstation the duplicate copy of invoice has been done away with of it is



invoice meant for transporter and self-attested by the manufacturer shall be used for transport of goods

goods digitally signed.

4 rule 12, sub rule (2)

(a) Notwithstanding

anything containing in sub-

rule (1), every assessee

shall submit to the

Superintendent of Central

Excise, an Annual

Financial Information

Statement for the

preceding financial year to

which the statement relates

in the form specified by

notification by the Board

by 30th day of November

of the succeeding year.

(b) The Central

Government may, by

notification, and subject to

such conditions or

limitations as may be

specified in such

notification, specify

assessee or class of

assessees who may not

require to submit such an

Annual Financial

Information Statement.]

(a) Notwithstanding

anything containing in sub-rule

(1), every assessee shall submit

to the Superintendent of Central

Excise, an Annual Return for

the preceding financial year to

which the return relates in the

form specified by notification

by the Board by 30th day of

November of the succeeding

year.

(b) The Central Government

may, by notification, and

subject to such conditions or

limitations as may be specified

in such notification, specify

assessee or class of assessees

who may not require to submit

such an Annual Return.]

(c) The provision of this

sub-rule and clause (b) of sub-

rule (8) shall mutatis mutandis

apply to a hundred per cent.

Export- Oriented Unit.

1st April, 2016

Returns for CE assessee has been overhauled and only one extra return i.e. Annual Return other than monthly return for manufacture and removal of goods has been prescribed.

5 rule 12, sub rule

(a) Every assessee shall submit to the

OMITTED 1st April, 2016

Annual Installed



(2A) Superintendent of Central Excise, an Annual Installed Capacity Statement declaring the annual production capacity of the factory for the financial year to which the statement relates in the form specified by notification by the Board by 30th day of April of the succeeding financial year :

Provided that for the year 2007-08, the said statement shall be furnished by 31st day of October, 2008.

(b) The Central Government may, by notification, and subject to such conditions or limitations as may be specified in such notification, specify assessee or class of assessees who may not require to submit such an Annual Installed Capacity Statement.]

Capacity Statement done away with.

6 Rule 12, in sub-rule (6)

Where any return or Annual Financial Information Statement or Annual Installed Capacity Statement referred to in this rule is submitted by the assessee after due date as specified for every return or statements, the

Where any return referred to in this rule is submitted by the assessee after due date as specified for every return or statements, the assessee shall pay to the credit of the Central Government, an amount calculated at the rate of one hundred rupees per day

1st April, 2016



assessee shall pay to the credit of the Central Government, an amount calculated at the rate of one hundred rupees per day subject to a maximum of twenty thousand rupees for the period of delay in submission of each such return or statement.]

subject to a maximum of twenty thousand rupees for the period of delay in submission of each such return or statement.]

7 Rule 12, in sub-rule (8)

INSERTED

An assessee, who has filed a return in the form referred to in sub-rule(1) within the date specified under that sub-rule or the second proviso thereto, may submit a revised return by the end of the calendar month in which the original return is filed. Explanation.- Where an assessee submits a revised return under clause (a), the “relevant date” for the purpose of recovery of Central Excise duty, if any, under section 11A of the Act shall be the date of submission of such revised return. (b) An assessee who has filed Annual Return referred to in clause (a) of sub-rule (2) by the due date mentioned in clause (a) of that sub-rule, may submit a revised return within a period of one month from the date of submission of the said Annual Return

1st April, 2016

Provision of revised return for central excise assessees brought in.



8 Rule 17, in sub rule (7)

INSERTED An assessee, who has filed a return in the form referred to in sub-rule (3) within the date specified under that sub-rule, may submit a revised return by the end of the calendar month in which the original return is filed. Explanation.- Where an assessee submits a revised return under this sub-rule, the “relevant date” for the purpose of recovery of Central Excise duty, if any, under section 11A of the Act shall be the date of submission of such revised return”

1st April, 2016

9 Rule 26, in sub rule (1), in the proviso

INSERTED Provided that where any proceeding for the person liable to pay duty have been concluded under clause (a) or clause (d) of sub-section (1) of section 11AC of the Act in respect of duty, interest and penalty, all proceedings in respect of penalty against other persons, if any, in the said proceedings shall also be deemed to be concluded.

1st April, 2016



2. Amendments to Central Excise Act, 1944

Section 11A is being amended so as to increase the period of limitation from one year to two

years in cases not involving fraud, suppression of facts, willful mis-statement, etc.

Section 5A is being amended so as to omit the requirement of publishing and offering for sale

any notification issued, by the Directorate of Publicity and Public Relations of CBEC.

The Third Schedule is being amended so as to:

a) make some editorial changes, consequent to 2017 Harmonized System of Nomenclature.

b) include therein:

1) All goods falling under heading 3401 and 3402;

2) Aluminium foils of a thickness not exceeding 0.2 mm;

3) Wrist wearable devices (commonly known as „smart watches‟); and

4) Accessories of motor vehicle.

The amendment at b) will come into effect immediately owing to a declaration under the

Provisional Collection of Taxes Act, 1931.

The Clean Energy Cess is being renamed as Clean Environment Cess. Also, the Tenth

Schedule to the Finance Act, 2010 dealing with Clean Energy Cess is being amended so as

to increase the Scheduled rate of Clean Energy Cess from Rs.300 per tonne to Rs.400 per

tonne. The effective rate of Clean Energy Cess is being increased from Rs.200 per tonne to

Rs.400 per tonne.

SKKA Comments

The increase in normal period of limitation will have good impact as the department would have

the powers to reopen the case without proving fraud or misstatement. On the hand of assessee,

chance of lower penalty being levied in case of guilt will be helpful.

SKKA Comments

The power sector and chemical sector would be burdened by cost escalation by such increase.



Infrastructure Cess is being levied on motor vehicles, of heading 8703, w.e.f. 01/03/2106,

as under:

b) Petrol/LPG/CNG driven motor vehicles of length not exceeding 4m and engine capacity not

exceeding 1200cc – 1%

c) Diesel driven motor vehicles of length not exceeding 4m and engine capacity not exceeding

1500cc – 2.5%

d) Other higher engine capacity motor vehicles and SUVs and bigger sedans – 4%.

Three wheeled vehicles, Electrically operated vehicles, Hybrid vehicles, Hydrogen vehicles based on

fuel cell technology, Motor vehicles which after clearance have been registered for use solely as taxi,

Cars for physically handicapped persons and Motor vehicles cleared as ambulances or registered for

use solely as ambulance will be exempt from this Cess.

No credit of this Cess will be available, and credit of no other duty can be utilized for payment

of this Infrastructure Cess.

Registration of two or more premises as one registrant in Central Excise –reg- Circular

No. 1016/4/2016-CX

Notification No. 36/2001-Central Excise (NT), dated 26.06.2001 has been amended vide

Notification No. 19/2016-Central Excise(NT), dated 01.03.2016 to provide that

o if two or more premises of the same factory are located in a close area,

o these premises are within the jurisdiction of a Central Excise Range and

o the process undertaken there are interlinked and

o the units are not operating under any of the area based exemption notifications,

the Commissioner of Central Excise, may, subject to proper accountal of the movement of

goods from one premise to other and such other conditions and limitations, as may be

prescribed, allow single registration.

Certificate evidencing payment of Central Excise duty-Circular No. 1017/5/2016-CX

The benefit of Boards circular 620/11/2002-CX, dated 20.02.2002 wherein facility of issuing of

Certificate as proof of payment of Central Excise duty was extended to Small Scale Industry

has been extended to all industries w.e.f. 01/03/2016.



3. Amendments to Central Excise Tariff

S. Amendment No.

A. Amendments not affecting rates of duty

1. Editorial changes in the Harmonized System of Nomenclature (HSN) in certain chapters are being incorporated in the First and Second Schedules, to be effective from 01.01.2017.

2. To:

a) Amend supplementary notes (e) and (f) Chapter 27 so as to change the reference: i. from IS:1460:2000 to IS:1460:2005 for high speed diesel (HSD) and

ii. from IS:1460 to IS: 15770:2008 for light diesel oil (LDO) b) Substitute Tariff line 5901 39 10 with description “Warp pile fabrics, uncut” in place of tariff line 5801 37 11 [with description Warp pile fabrics “epingle” uncut velvet] and 5801 37

19 [with description Warp pile fabrics “epingle” uncut other]; c) Prescribe separate tariff lines for laboratory created or laboratory grown or manmade or cultured or synthetic diamonds; d) Delete Tariff line 8525 50 50, relating to Wireless microphone.

B. Amendments involving change in the rate of duty w.e.f. 01/03/2016

From To

Aerated Beverages

1 Waters, including mineral waters and aerated

18% 21%

waters, containing added sugar or other

sweetening matter or flavoured

Tobacco and Tobacco Products

2 Cigar and cheroots 12.5% or Rs.3375 12.5% or Rs.3755

per thousand, per thousand,

whichever is higher whichever is higher

3 Cigarillos 12.5% or Rs.3375 12.5% or Rs.3755





4 Cigarettes of tobacco substitutes Rs.3375 per Rs.3755 per thousand

thousand

5 Cigarillos of tobacco substitutes 12.5% or Rs.3375 12.5% or Rs.3755



6 Others of tobacco substitutes 12.5% or Rs.3375 12.5% or Rs.3755



7 Gutkha, chewing tobacco (including filter 70% 81%

khaini) and jarda scented tobacco

8 Unmanufactured tobacco 55% 64%

9 Paper rolled biris [whether handmade or Rs.30 per thousand Rs.80 per thousand

machine made] and other biris [other

than

handmade biris]

However, the effective rate of basic excise

duty of Rs.21 per thousand shall remain

unchanged.

10 Articles of Jewellery [excluding articles of

silver jewellery, other than those studded

with diamonds, ruby, emerald or

sapphire].

NIL 1% (without Cenvat

Credit) and 12.5%

(with Cenvat Credit)



CENVAT CREDIT RULES, 2004

The following changes have been introduced in the CCR, 2004:

SECTION/RULE

DETAIL BEFORE AMENDMENT

AFTER AMENDMENT W.E.F REMARKS

Rule 2, in sub clause (a)

“capital goods” means :-

(A) the following goods, namely :-

(i) all goods falling under Chapter 82, Chapter 84, Chapter 85, Chapter 90, [heading 6805, grinding wheels and the like, and parts thereof falling under heading 6804] of the First Schedule to the Excise Tariff Act;

……………..

used –

(1) in the factory of the manufacturer of the final products, but does not include any equipment or appliance used in an office; or

[(1A) outside the factory of the manufacturer of the final products for generation of electricity for captive use within the factory; or]

“capital goods” means :-

(A) the following goods, namely :-

(i) all goods falling under Chapter 82, Chapter 84, Chapter 85, Chapter 90, [heading 6805, grinding wheels and the like, and parts thereof falling under heading 6804 and wagons of sub-heading 860692] of the First Schedule to the Excise Tariff Act; …………………………………..]used -

(1) in the factory of the manufacturer of the final products; or

[(1A) outside the factory of the manufacturer of the final products for generation of electricity or for pumping of water for captive use within the factory; or]

w.e.f. 1st

April, 2016

Welcome change as appliance used in an office located within a factory has been included in definition of capital goods

Rule 2, in sub clause (e)

“exempted service” means a -

…………………………………….but shall not include a service which is exported in terms of rule 6A of the Service Tax Rules,

“exempted service” means a -

……………………………….

but shall not include a service – (a) which is exported in terms of rule 6A of the Service Tax Rules,

w.e.f. 1st

April, 2016

Definition amended to bring in transport by vessel services.



1994.] 1994; or (b) by way of transportation of goods by a vessel from customs station of clearance in India to a place outside India;

This would allow shipping lines to take credit on inputs and Page 31 of 38 input services used in providing the said service

Rule 2, in sub clause (k)

“input” means …………..-

(iii) all goods used for generation of electricity or steam for captive use; or

(i) all goods used for providing any output service;

but excludes…………….

(C) capital goods except when used as parts or components in the manufacture of a final product;

“input” means…………….. -

(iii) all goods used for generation of electricity or steam or pumping of water for captive use; or

(iv) all goods used for providing any output service, or;

(v) all capital goods which have a value upto ten thousand rupees per piece

but excludes -

(C) capital goods, except when,-

(i) used as parts or components in the manufacture of a final product; or (ii) the value of such capital goods is upto ten thousand rupees per piece;

w.e.f. 1st

April, 2016

Rule 2, in sub clause (m)

“input service distributor” means an office of the manufacturer or producer of final products or pro-vider of output service, which receives invoices issued under rule

“input service distributor” means an office of the manufacturer or producer of final products or pro-vider of output service, which receives invoices issued under

w.e.f. 1st

April, 2016



4A of the Service Tax Rules, 1994 towards pur-chases of input services and issues invoice, bill or, as the case may be, challan for the purposes of distributing the credit of service tax paid on the said services to such manufacturer or producer or provider, as the case may be

rule 4A of the Service Tax Rules, 1994 towards pur-chases of input services and issues invoice, bill or, as the case may be, challan for the purposes of distributing the credit of service tax paid on the said services to such manufacturer or producer or provider or an oursourced manufacturing unit, as the case may be

Rule 3, in sub-rule (4), in the fifth proviso

Provided also that the CENVAT credit of any duty specified in sub-rule (1), except the National Calamity Contingent duty in item (v) thereof, shall not be utilized for payment of the said National Calamity Contingent duty on goods falling under tariff items 8517 12 10 and 8517 12 90 respectively of the First Schedule of the Central Excise Tariff

Provided also that the CENVAT credit of any duty specified in sub-rule (1), except the National Calamity Contingent duty in item (v) thereof, shall not be utilized for payment of the National Calamity Contingent duty leviable under section 136 of the Finance Act, 2001 (14 of 2001)

1st March 2016

Rule 3, in sub-rule (4), in the ninth proviso

INSERTED Provided also that CENVAT credit shall not be utilised for payment of Infrastructure Cess leviable under sub-clause (1) of clause 159 of the Finance Bill, 2016

1st March 2016

Rule 4, sub-rule (2), in clause (a), for the Explanation

For the removal of doubts, it is hereby clarified that an assessee shall be “eligible” if his aggregate value of clearances of all excisable goods for home consumption in the preceding financial year computed in the manner specified in the said notification did not exceed rupees four hundred lakhs.]

For the removal of doubts, it is hereby clarified that- (i) an assessee engaged in the manufacture of articles of jewellery, other than articles of silver jewellery but inclusive of articles of silver jewellery studded with diamond, ruby, emerald or sapphire, falling under chapter heading 7113 of the First Schedule of the Excise

1st March 2016



Tariff Act, shall be eligible, if his aggregate value of clearances of all excisable goods for home consumption in the preceding financial year, computed in the manner specified in the said notification, did not exceed rupees twelve crore; (ii) an assessee, other than (a) above, shall be eligible, if his aggregate value of clearances of all excisable goods for home consumption in the preceding financial year, computed in the manner specified in the said notification, did not exceed rupees four hundred lakhs (substituted)

Rule 4, sub-rule (5), in clause (b)

The CENVAT credit shall also be

allowed in respect of jigs, fixtures,

moulds and dies sent by a

manufacturer of final products to, -

(i) another manufacturer for

the production of goods; or

(ii) a job worker for the

production of goods on his behalf,

according to his specifications.

The CENVAT credit shall also be allowed to a manufacturer of final products in respect of jigs, fixtures, moulds and dies or tools falling under Chapter 82 of the First Schedule to the Excise Tariff Act, sent by such manufacturer to, - (i) another manufacturer for the production of goods; or (ii) a job worker for the production of goods on his behalf, according to his specifications: Provided that such credit shall also be allowed where jigs, fixtures, moulds and dies or tools falling under Chapter 82 of the First Schedule to the Excise Tariff Act, are sent by the

w.e.f. 1st

April, 2016

It is also being provided that a manufacturer can send these goods directly to such other manufacturer or job-worker without bringing the same to his premises



manufacturer of final products to the premises of another manufacturer or job worker without bringing these to his own premises. (substituted)

Rule 4, sub-rule (6)

The [Deputy Commissioner of

Central Excise or the Assistant

Commissioner of Central Excise,

as the case may be,] having

jurisdiction over the factory of the

manufacturer of the final products

who has sent the input or partially

processed inputs outside his

factory to a job-worker may, by an

order, which shall be valid for a

financial year, in respect of

removal of such input or partially

processed input, and subject to

such conditions as he may impose

in the interest of revenue including

the manner in which duty, if

leviable, is to be paid, allow final

products to be cleared from the

premises of the job-worker.

The [Deputy Commissioner of

Central Excise or the Assistant

Commissioner of Central Excise,

as the case may be,] having

jurisdiction over the factory of

the manufacturer of the final

products who has sent the input

or partially processed inputs

outside his factory to a job-

worker may, by an order, which

shall be valid for three financial

years, in respect of removal of

such input or partially processed

input, and subject to such

conditions as he may impose in

the interest of revenue including

the manner in which duty, if

leviable, is to be paid, allow final

products to be cleared from the

premises of the job-worker.

w.e.f. 1st

April, 2016

Presently, the permission given by an Assistant Commissioner or Deputy Commissioner to a manufacturer of the final products for sending inputs or partially processed inputs outside his factory to a job-worker and clearance there from on payment of duty is valid for a financial year. It is being provided that the same would be valid for three



financial years

Rule 4, sub-rule (7), sixth proviso

INSERTED Provided also that CENVAT Credit of Service Tax paid on the charges paid or payable for the service provided by way of assignment, by the Government or any other person, of the right to use any natural resource, shall be spread over such period of time as the period for which the right to use has been assigned.

w.e.f. 1st

April, 2016

Rule 9, in sub rule (1), clause (a)

an invoice issued by -

(i) a manufacturer for clearance of -

an invoice issued by -

(i) a manufacturer or a service provider for clearance of

w.e.f. 1st

April, 2016

Rule 14, Sub rule (2)

For the purposes of sub-rule (1), all credits taken during a month shall be deemed to have been taken on the last day of the month and the utilisation thereof shall be deemed to have occurred in the following manner, namely: -

(i) the opening balance of the month has been utilised first;

(ii) credit admissible in terms of these rules taken during the month has been utilised next;

(iii) credit inadmissible in terms of these rules taken during the month has been utilised thereafter.]

OMITTED w.e.f. 1st

April, 2016

The existing sub- rule (2) of rule 14 prescribes a procedure based on FIFO method for determining whether a particular credit has been utilized. The said sub-rule is being omitted.

Other Changes in Cenvat Credit rules, 2004



o Rule 6 of Cenvat Credit Rules, which provides for reversal of credit in

respect of inputs and input services used in manufacture of exempted goods

or for provision of exempted services, is being redrafted with the objective

of simplifying and rationalizing the same without altering the established

principles of reversal of such credit w.e.f. 01/04/2016

o Rule 7 relating to input service distributor has been amended to provide facility to

transfer input services credit to outsourced manufacturers, under certain

circumstances w.e.f. 01/04/2016

o Notification No. 27/2012 – C.E. (N.T.) is being amended so as to provide that time

limit for filing application for refund of Cenvat Credit under Rule 5 of the Cenvat

Credit Rules, 2004, in case of export of services, shall be 1 year from the date of –

(a) receipt of payment in convertible foreign exchange, where provision of

service has been completed prior to receipt of such payment; or

(b) the date of issue of invoice, where payment for the service has been

received in advance prior to the date of issue of the invoice

DISCLAMER: UNION BUDGET 2016- HIGHLIGHTS IS MEANT FOR INFORMATIONAL PURPOSE ONLY

AND DOES NOT PURPORT TO BE ADVCIE OR OPINION, LEGAL OR OTHERWISE WHATSOEVER. THE

INFORMATION PROVIDED IS NOT INTENDED TO CREATE A CONSULTANT- CLIENT RELATIONSHIP AND

NOT FOR ADVERTISING OR SOLICITING. SKKA DOES NOT INTEND TO ADVERTISE ITS SERVICES OR

SOLICIT WORK THROUGH THIS NEWSLETTER. SKKA IS NOT RESPONSIBLE FOR ANY ERROR OR

OMMISSIONIN THIS NEWSLETTER. THE VIEWS EXPRESSED IN THE ARTICLES IN THIS NEWSLETTER

ARE PERSONAL VEIWS OF THE AUTHORS.

SKKA Comments

A very welcome amendment to limit the reversal to the extent of cenvat credit availed. Recently,

the MUMBAI CESTAT in case of Mercedes Benz had given a ruling on the same ground. A very

important change in cenvat credit rules.

union budget 2016 central excise & cenvat proposals€¦ · union budget 2016 central excise...

Documents