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of <h1>Clarification on Using Accumulated Cenvat Credit Post-April 1, 2008, u/r 6(3)(c) of Cenvat Credit Rules 2004.</h1> The circular addresses the utilization of accumulated Cenvat credit under the Cenvat Credit Rules, 2004, specifically Rule 6(3)(c). Before April 1, 2008, taxpayers could only use Cenvat credit up to 20% of the service tax payable on taxable output services, leading to credit accumulation. Post-amendment, from April 1, 2008, two options are available: paying a percentage of exempted goods/services value or paying an amount equivalent to the Cenvat credit attributable to exempted goods/services. The circular clarifies that accumulated credit as of April 1, 2008, can be utilized for service tax payments, as there is no legal prohibition against it.
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