GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
NOTIFICATION No. 23/2016- Central Excise (N.T.)
New Delhi, the 01st April, 2016
G.S.R. (E). - In exercise of the powers conferred by section 37 of the
Central Excise Act, 1944 (1 of 1944) and section 94 of the Finance Act, 1994 (32
of 1994), the Central Government hereby makes the following rules further to
amend the CENVAT Credit Rules, 2004, namely-
- (1) These rules may be called the CENVAT Credit (Fourth Amendment) Rules,
2016.
(2) They shall come into force from the date of their publication in the
official Gazette.
- In the CENVAT Credit Rules, 2004,-
(a) in rule 6, in sub-rule (3) for clause (i), the following clause shall be
substituted ,
namely :-
“(i) pay an amount equal to six per cent. of value of the exempted goods and
seven per
cent. of value of the exempted services subject to a maximum of the sum total of
opening
balance of the credit of input and input services available at the beginning of
the period
to which the payment relates and the credit of input and input services taken
during that
period; or” ;
(b) in rule 7B, in sub-rule (1) for the words and figures “invoices, issued in
terms of the
provisions of the Central Excise Rules, 2002,” the words and figure “documents
specified under rule 9,” shall be substituted.
[F. No.267/17/2016-CX.8]
(Shankar Prasad Sarma)
Under Secretary
Note.- The principal rules were published in the Gazette of India,
Extraordinary, Part II,
Section 3, Sub-section (i), vide
notification No. 23/2004 - Central Excise
(N.T.) dated the
10th September, 2004 vide number G.S.R. 600(E) dated the 10th September, 2004
and last
amended vide
notification No. 13/2016(N.T.)- Central Excise (N.T.) dated 1st
March, 2016
published in the Gazette of India, Extraordinary, Part II, Section 3,
Sub-section (i), vide
number G.S.R. 244 (E) , dated the 1st March, 2016.
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