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ARTICLE · 09 APRIL 2015

Budget 2015: Amendment To Rule 6 Of CCR

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The Budget 2015 has, quite notoriously, placed an amendment to Rule 6 of the Cenvat Credit Rules, 2004 by including non-excisable goods into its fold.

IndiaGovernment, Public Sector
Shweta Vashist
Shweta Vashist
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The Budget 2015 has, quite notoriously, placed an amendment to Rule 6 of the Cenvat Credit Rules, 2004 by including non-excisable goods into its fold.

Vide Notification No. 6/2015, dated 1st March, 2015, two explanations have been added to Rule 6(1), after the proviso to these rules:

"Explanation 1. - For the purposes of this rule, exempted goods or final products as defined in clauses (d) and (h) of rule 2 shall include non-excisable goods cleared for a consideration from the factory.

Explanation 2. - Value of non-excisable goods for the purposes of this rule, shall be the invoice value and where such invoice value is not available, such value shall be determined by using reasonable means consistent with the principles of valuation contained in the Excise Act and the rules made thereunder.

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