We are pleased to share the following tax alert:
The CBEC has as amended the Central Excise Rules, 2002 and Cenvat credit Rules, 2004 in relation to procedures to be followed for availing cenvat credit on invoices issued by an importer vide Notification No. 17/2013- CE(NT) and 18/2013- CE(NT) both dated 31.12.2013. The amendments would come into force w.e.f. 01.03.2014. The salient amendments are:
1. Registration is now made compulsory for importers issuing invoices on which CENVAT Credit can be taken.
2. An importer issuing cenvat table invoice is now made a "First Stage Dealer"
3. Other consequential amendments.