Compounding payments and service tax credit: rules to prescribe compounding amounts and allow service tax credit for manufacture of excisable goods. Insertion into subsection (2) of section 37 grants rule making power to prescribe the amount payable for compounding under the excise compounding provision and to provide for credit of service tax under Chapter V of the Finance Act, 1994, paid or payable on taxable services used in or in relation to the manufacture of excisable goods.