Phone: 24323017

Fax: 24323046

Email: chennaiservicetax@dataone.in

Website:

http://centralexcisechennai.gov.in

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

OFFICE OF THE COMMISSIONER OF SERVICE TAX

6th Floor, MHU COMPLEX, 692, ANNA SALAI, NANDANAM, CHENNAI 600035

 

 

Trade Notice No. 36/2007 ST                                                                    Dated:     14/12/07

 

 

Subject: Notification No.39/2007- Central Excise (NT) dated 13/11/07 –

              communication of – reg.

***

           

            Notification No.39/2007 Central Excise (NT) dated 13/11/07 issued by the Ministry of Finance is communicated herewith for information and necessary action.

 

            The notification amends the Cenvat Credit (Tenth Amendment) Rules 2007 to provide removal of used and cenvat availed capital goods on payment of service tax after reducing 2.5% of credit taken on such capital goods, for each quarter of a year or part thereof from the date of taking such credit.

 

All the Trade associations are requested to bring the contents of the Trade Notice to the attention of their members, in particular, and the trade and all other concerned in general.

 

(Issued from file:  C. No. IV/16/01/2007-STC)

 

 

Encl: As above.

 

(P.K.JAIN)

COMMISSIONER

 

To

1. As per mailing list. (Both Trade and Department.)

2. Members of the R.A.C.

 

Copy to:

The Superintendent, Computer Section for uploading in the Departmental Website.

 

 

 

 

 

 

 

 

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

 

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

(DEPARTMENT OF REVENUE)

 

Notification No. 39 / 2007-Central Excise (N.T.)

 

New Delhi the 13th November, 2007,

Kartika 1929 Saka

 

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 (Tenth 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, in sub-rule (5), after the second proviso, the following proviso shall be inserted, namely:-

 

“Provided also that if the capital goods, on which CENVAT Credit has been taken, are removed after being used, the manufacturer or provider of output service shall pay an amount equal to the CENVAT Credit taken on the said capital goods reduced by 2.5 per cent for each quarter of a year or part thereof from the date of taking the Cenvat Credit;”.

 

[F.No. 267//01/2004-CX.8]
 

(Ashima Bansal)

Under Secretary to the Government of India

 

 

Note.- The principal rules were published in the Gazette of India, Part II, Section 3, sub-section (i) Extraordinary vide notification No. 23/2004-Central Excise (N.T.), dated the     10th September, 2004, G.S.R. 600 (E), dated the 10th September 2004, and subsequently amended by notification No. 35/2007-Central Excise (N.T.). dated the 14th September 2007, G.S.R. 596 (E), dated the 14th September, 2007