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Our Bureau

New Delhi, March 9

The Finance Ministry has tightened the Cenvat Credit Rules 2004 to stipulate that credit could be taken only when the invoice contains the central excise or service tax registration number of the manufacturer or service provider issuing such an invoice. "The Revenue Department wants to ensure that no wrongful credit is taken. They also want to cross verify the service provider. Even some of the large telecom and insurance and banking companies do not specify their service tax registration number in their invoices," Mr J.K. Mittal, a service tax expert, told Business Line.

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