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of <h1>Finance Bill 2010: Retrospective Changes to CENVAT Credit Rule 6, Interest at 24% on Exempted Goods Inputs</h1> The amendment to rule 6 of the CENVAT Credit Rules, 2002, as outlined in Clause 71 of the Finance Bill, 2010, introduces retrospective changes effective from March 1, 2002, to September 9, 2004. It mandates manufacturers to pay an amount equivalent to the CENVAT credit attributable to inputs used in the production of exempted goods, along with 24% annual interest. Applications for adjustment must include a certificate from a Chartered or Cost Accountant and be submitted within six months of the Finance Bill's presidential assent. The Commissioner of Central Excise will verify payments, and any discrepancies must be settled within ten days. Actions taken during the specified period are deemed valid.
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