Notification No 33/2007-CE(N.T.) dated
07.09.2007
Amends CENVAT Credit Rules, 2004 to provide for reversal of credit when
remission of duty granted under rule 21
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. (1) These rules may be called the CENVAT Credit (Eighth Amendment) Rules,
2007.
(2) They shall come into force on the date of their publication in the Official
Gazette.
2. In the CENVAT Credit Rules, 2004, in rule 3, after sub-rule (5B), the
following sub-rule shall be inserted, namely;-
“(5C).- Where on any goods manufactured or produced by an assessee, the payment
of duty is ordered to be remitted under rule 21 of the Central Excise Rules,
2002, the CENVAT credit taken on the inputs used in the manufacture or
production of said goods shall be reversed.”
(Rahul Nangare)
Under Secretary to the Government of India
[F.No.267/22/2007-CX-6]
Foot Note: The principal rules were published in the Gazette of India,
Extraordinary vide notification No. 23/2004-Central Excise (N.T.), dated the
10th September, 2004, vide GSR 600 (E), dated the 10th September 2004, and were
last amended vide notification No.32/2007-Central Excise (N.T.), dated the 3rd
August, 2007, vide G.S.R.534 (E), dated the 3rd August, 2007.
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