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of <h1>Finance Bill 2010 Amends Rule 57AD: New CENVAT Credit Adjustment Rules for 2000-2001; Includes 24% Interest Penalty</h1> The Fifth Schedule of the Finance Bill, 2010, amends Rule 57AD of the Central Excise Rules, 1944. It introduces a new sub-rule applicable to disputes concerning the adjustment of CENVAT credit on inputs used for exempted final products for the period from April 1, 2000, to June 30, 2001. Manufacturers using CENVAT credit for inputs, excluding fuel, and producing both duty-chargeable and exempted goods, may pay an amount equivalent to the credit used for exempted goods. They must also pay interest at 24% per annum from the clearance date until payment.
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