Notification No. 26/2007, Dated 11 May, 2007

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]

Government of India

Ministry of Finance

(Department of Revenue)

***

New Delhi, the 11 May, 2007

21, Vaisakha 1929 Saka

Notification No. 26/2007 – Central Excise (N.T.)

 

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 (Fifth 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 (5A), the following sub-rule shall be inserted, namely:-

 

    “(5B). If the value of any,

            (i)         input, or

            (ii)        capital goods before being put to use,

on which CENVAT Credit has been taken is written off fully or where any provision to write off fully has been made in the books of account, then the manufacturer shall pay an amount equivalent to the CENVAT credit taken in respect of the said input or capital goods:

 

                   Provided that if the said input or capital goods is subsequently used in the manufacture of final products, the manufacturer shall be entitled to take the credit of the amount equivalent to the CENVAT Credit paid earlier subject to the other provisions of these rules.”

 

 

(Rahul Nangare)

Under Secretary to Government of India 

[F.No.267/29/2002-CX8]

 

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 G.S.R. 600 (E), dated the 10th September 2004 and were last amended vide notification No. 24/2007-Central Excise (N.T.), dated the 25th April, 2007, vide G.S.R. 309 (E), dated the 25th April, 2007.

Seair Exim offers an Import-Export data demo.

We do not mediate buying, selling of products or services.

Seair is proud to have a loyal customer base from big brands.

We have successfully served many reputable clients for Import-Export Data Information Services. Here are some of our clients:

Get a free Import-Export data demonstrative report on desired products.

We don’t offer any assistance over buying or selling any products.

Thank You

Big thanks to showing your interest in SEAIR Exim Solutions. We’ve currently received your request for data information. We will return on the same query in a short span of time.

Copyright © 2009 - 2021 www.seair.co.in. All Rights Reserved.