CCR TO BE AMENDED

The draft proposal by the Finance Ministry has cast specific legal responsibility on a purchaser of goods / services for which he has taken Cenvat credit under Cenvat Credit Rules (CCR) to ensure that critical details regarding payment of tax, description of goods/services and factory or input service provider particulars are available on the document on which credit is taken. If the proposal is accepted, corporate India would not have to comply with the existing ‘reasonable steps’ for availing
Cenvat credit.