CENVAT Documents and accounts-
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1)Â Â Â Â The CENVAT credit shall be taken by the manufacturer on the basis of any of the following documents, namely:-
(a)Â Â An invoice issued by a manufacturer of inputs or capital goods under rule 52A or 52AA or rule 100E from his factory or from his depot or from the premises of the consignment agent of the said manufacturer or from any other premises from where the goods are sold by or on behalf of the said manufacturer;
(b)Â A bill of entry;
(c)Â Â An invoice issued by a first stage dealer of excisable goods under rule 52AA;
(d)Â An invoice issued by a second stage dealer of excisable goods under rule 52AA;
(e)Â Â An invoice issued by an importer under rule 52AA;
(f)Â Â Â An invoice issued by an importer from his depot or from the premises of the consignment agent of the said importer provided the said depot or the premises, as the case may be, is registered under rule 174;
(g)Â An invoice issued by a first stage or second stage dealer of imported goods registered under rule 174;
(h)Â An invoice issued by a manufacturer of final products for clearance of inputs or capital goods as such.
2)Â Â Â Â (a) The manufacturer shall take all reasonable steps to ensure that the inputs or capital goods in respect of which he has taken the CENVAT credit are goods on which the appropriate duty of excise as indicated in the documents accompanying the goods has been paid.
(b) the CENVAT credit in respect of inputs or capital goods purchased from a first stage or second stage dealer shall be allowed, only if such dealer has maintained records indicating the fact that the inputs or capital goods were supplied from the stock on which duty was paid by the producer of such inputs or capital goods and only an amount of such duty on pro rata basis has been indicated in the invoice issued by him.
3)Â Â Â Â The manufacturer of final products shall maintain proper records for the receipt, disposal, consumption and inventory of the inputs and capital goods in which the relevant information regarding the value, duty paid, the person from whom the inputs or capital goods have been purchased is recorded and the burden of proof regarding the admissibility of the CENVAT credit shall lie upon the manufacturer taking such credit.
4)Â Â Â Â The manufacturer of final products shall submit within five days from the close of each month to the Superintendent of Central Excise, a monthly return in the prescribed form.
In terms of the above provisions, the list of documents on the basis of which credit may be availed has been enlarged and now inter alias includes an invoice issued under Rules 52A, 52AA, 100E and a Bill of Entry. Rule 52AA has been inserted to reintroduce the erstwhile provisions pertaining to issuance of MODVAT invoices by registered dealers etc.
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