Adjustment of CENVAT credit: manufacturers may discharge credit attributable to inputs for exempted goods to resolve historic disputes, with interest payable.

A new sub rule to Rule 6 permits manufacturers with pending disputes over CENVAT credit attributable to inputs used in or in relation to exempted goods (excluding inputs intended as fuel) for the specified retrospective period to pay an amount equivalent to that attributable credit before or after clearance; interest is payable from the due date-defined as the 5th day of the month following the month of clearance-until payment.

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