CENVAT

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{{use Indian English|date=March 2016}}

The introduction of CENVAT Credit Rules,[http://cawinners.com/cenvat-credit-rules/ Cenvat Credit Rules 2004 with Latest Amendments] 2004 served to be instrumental in codifying the credit mechanism into a single law for availing and utilisation of credit of taxes paid on goods as well as services for both the manufacturers and the service providers.{{citation |title=Indirect taxes: Rationalise CENVAT credit as a step to align with the proposed GST |url=http://www.businesstoday.in/union-budget-2016-17/expert-columns/indirect-taxes-cenvat-credit-to-align-with-the-proposed-gst/story/228984.html |work=Business Today |date=17 February 2016 }} An annual service tax cenvat return shall be required to be filed by specified tax payers.{{citation |title=Budget 2016: Here is your guide to indirect tax |url=http://economictimes.indiatimes.com/news/economy/policy/budget-2016-here-is-your-guide-to-indirect-tax/articleshow/51205593.cms |work=The Economic Times |date=1 March 2016 }}