Rule 44A of CGST Rules - Manner of reversal of credit of Additional duty of Customs in respect of Golddore bar

Rule 44A of CGST Rules - Manner of reversal of credit of Additional duty of Customs in respect of Golddore bar

(updated as on 15.11.2017)

(Inserted vide Notification No. 22/2017-Central Tax dated 17.08.2017)

The credit of Central tax in the electronic credit ledger taken in terms of theprovisions of section 140 relating to the CENVAT Credit carried forward which had accruedon account of payment of the additional duty of customs levied under sub-section (1) ofsection 3 of the Customs Tariff Act, 1975 (51 of 1975), paid at the time of importation ofgold dore bar, on the stock of gold dore bar held on the 1st day of July, 2017 or contained ingold or gold jewellery held in stock on the 1st day of July, 2017 made out of such importedgold dore bar, shall be restricted to one-sixth of such credit and five-sixth of such credit shallbe debited from the electronic credit ledger at the time of supply of such gold dore bar or thegold or the gold jewellery made therefrom and where such supply has already been made,such debit shall be within one week from the date of commencement of these Rules.

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CHAPTER V

INPUT TAX CREDIT

Rule 36 :Documentary requirements and conditions for claiming input tax credit Rule 37 : Reversal of input tax credit in the case of non-payment of consideration Rule 38 :Claim of credit by a banking company or a financial institution Rule 39 :Procedure for distribution of input tax credit by Input Service Distributor Rule 40 :Manner of claiming credit in special circumstances Rule 41 :Transfer of credit on sale, merger, amalgamation, lease or transfer of abusiness Rule 42 :Manner of determination of input tax credit in respect of inputs or input servicesand reversal thereof Rule 43 :Manner of determination of input tax credit in respect of capital goods and reversal thereof in certain cases Rule 44 :Manner of reversal of credit under special circumstances Rule 44A : Manner of reversal of credit of Additional duty of Customs in respect of Golddore bar Rule 45 :Conditions and restrictions in respect of inputs and capital goods sent to the jobworker

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