TaxTMI 
TaxTMI 
We have a credit balance in RG23C-Part-II where we adjust the output excise with it. From march onwards the Education Cess and Secondary and Higher Education Cess has been subsumed in Basic Duty. How i adjust the Credit balance in part-II
CENVAT CREDIT AMOUNT
04 Mar 2015 
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Cenvat credit adjustment: refund or cross utilisation against service tax liabilities after cesses subsumed into basic duty.
A CENVAT credit balance in RG23C Part II remains after cesses were subsumed into Basic Duty; taxpayers may seek either a refund of the accumulated credit or, if they provide output services, cross utilise the credit against service tax liabilities, and may also pursue recovery via industry representation to obtain a refund from the Government. (AI Summary)
A CENVAT credit balance in RG23C Part II remains after cesses were subsumed into Basic Duty; taxpayers may seek either a refund of the accumulated credit or, if they provide output services, cross utilise the credit against service tax liabilities, and may also pursue recovery via industry representation to obtain a refund from the Government. (AI Summary)