CENVAT definition
Examples of CENVAT in a sentence
Arch will claim CENVAT on all the materials/services, wherever applicable and any benefit which may be available to or obtained by Arch pertaining to CENVAT or otherwise shall be taken into account while computing the Product Transfer Price under Section 1.1.
Alternatively if a wagon manufacturer making in-house production of Bogies and/or Couplers and/or Draft Gears clears them under clause 57CC/Rule 6 of CENVAT Rules, reimbursement shall be made @ 8% or as applicable for the CENVAT credit forgone against documentary evidence.
CENVAT Credit / VAT Credit, legally becomes available due to Change in Law (alongwith details of disclosure as per clause 15.8.7 below).
Following information must be contained in the said document for availing CENVAT credit on input service.
The revenue authorities disputed the availment of the credit on the ground that the telecom towers and shelters were immoveable in nature and consequently did not qualify as 'input', as defined under the CENVAT Credit Rules, 2004 (CCR).
In order to get CENVAT credit, the following information must be contained in the invoice issued by the supplier for Revenue and Capital goods: ➢ Serial number of the invoice , ➢ Registration number, ➢ Address of the concerned central excise division, ➢ Name of the consignee, ➢ Description of the goods, ➢ Classification of the goods, ➢ Time and date of removal, ➢ Mode of the transport and vehicle registration, ➢ Rate of duty, ➢ Quantity and value of goods and ➢ Duty payable thereon.
The Approved Activity Provider shall keep such records and systems accurate and up to date (and shall retain them for a period of six (6) years) and make them available to ASL or the Charity to inspect on request.
The Contractor shall provide a declaration issued, to the effect that he has not availed CENVAT credit on inputs and capital goods and input services, used for providing the taxable service, under the provisions of the CEVAT Credit Rules, 2004.
However, the purchaser may allow the supplier to submit necessary documents in this regard which may enable the purchaser to avail the CENVAT credit provided such credit is still available for the amount so paid as per CENVAT Credit Rules 2004.
They availed CENVAT credit of central excise duty paid on telecom towers, parts thereof, and shelters/ pre-fabricated buildings which house transmission equipment used for providing cellular telephone services.