Cenvat Credit Rules amended
As per Rule 6, if inputs are used in dutiable and exempted goods, either separate accounts are to be maintained or 10% on the final products are to be paid. However there is a third option as per Rule 6(3) in respect of certain goods like LSHS, Naphta, Newsprint, textiles etc,. In these cases proportionate credit can be reversed. Now the Government has added LPG for domestic consumption and Kerosene for public distribution to the list.
Notification No. dated 12.04.05