Central Excise - CENVAT Credit - Special Dispensation under Rule 12
ASPER Rule 12 of the CENVAT Credit Rules, credit is allowed on inputs/capital goods cleared from exempted units in certain regions. Now Notification No. 1/2010-CE pertaining to Jammu & Kashmir is included in the list.
In the days to come, we will know whether this 'insertion' is to be construed as being retrospective in nature or for that matter whether this special dispensation applies to goods which are cleared under the notification 1/2010-CE on or after 20/01/2014 or to goods cleared under this notification before this date but received on or after 20/01/2014.
Notification No. , Dated: January 20, 2014