Imported CENVAT Credit - Board's U-Turn - No Serious Confusion
THE Board's recent attempt to clear the cobwebs of confusion in relation to CENVAT Credit on inputs supplied by an importer has caused quite a confusion as seen from the large number of mails we have received on the subject.
Actually, the issue is quite clear now - don't get confused with the large number of notifications.
Please forget Notification Nos and dated 31.12.2013. They have been rescinded by Notification Nos. 06 and dated 26.02.2014, respectively. As to the confusion created by them, well just forget them - they are rescinded. They went out of the Statute even before they could enter the dreaded portals of our Laws.
Now we are left with four notifications, 8,9,10 and 11/CE NT dated 28.02.2014 and what all these notifications stipulate are:
1. Importers who issue invoices on which CENVAT Credit can be taken are required to get registered with the Central Excise Department.
2. The Registered importer is required to file a quarterly return.
All other changes are consequential.
So, if you want to get inputs from an importer, do ensure that the importer is registered with the Central Excise Department.