TaxTMI 
TaxTMI 
TaxTMI 
TRANSITIONAL PROVISIONS UNDER RULE 11 OF CENVAT CREDIT RULES 2004
iS THERE ANY DIFFERENCE BETWEEN RULE 11(2) AND RULE 11(3)(i) OF Cenvat Credit Rules, 2004. BOTH APPEAR TO BE CONVEYING SAME MEANING. IF SO WHY TWO SUBRULES.
transitional provision under cenvat rule11
rajkumar shukla
Exploring Differences Between Rule 11(2) and Rule 11(3)(i) of Cenvat Credit Rules, 2004: Credit Lapse & Cash Payment Explained. The discussion focuses on the differences between Rule 11(2) and Rule 11(3)(i) of the Cenvat Credit Rules, 2004. One participant questions the necessity of having two subrules that seem similar. A response clarifies that Rule 11(2) pertains to the lapse of remaining credit, while Rule 11(3)(i) involves cash payment when there is insufficient balance. Another contributor explains that Rule 11(2) applies to Small Scale Industries (SSI) exemptions based on clearance value, whereas Rule 11(3)(i) addresses exemptions under Section 5A of the Central Excise Act, 1944, introduced to address specific historical issues. (AI Summary)