https://www.taxtmi.com/forum/issue?id=1392 The amount payable under rule 6(3) is a reversal of CENVAT credit and may be paid either by debiting CENVAT credit or by cash under Explanation II to rule 6(3A); rule 6(3A) provides the method to quantify the reversal while rule 6(3) (notwithstanding rules 6(1) and 6(2)) prescribes the reversal obligation. Form ER 1 requires disclosure of such utilisation, and where only the taxable attributable portion is used, rule 6(2) should be applied. en-us Thu, 30 Jul 2009 11:16:13 +0530 Thu, 23 Jan 2025 15:58:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=1392 The amount payable under rule 6(3) is a reversal of CENVAT credit and may be paid either by debiting CENVAT credit or by cash under Explanation II to rule 6(3A); rule 6(3A) provides the method to quantify the reversal while rule 6(3) (notwithstanding rules 6(1) and 6(2)) prescribes the reversal obligation. Form ER 1 requires disclosure of such utilisation, and where only the taxable attributable portion is used, rule 6(2) should be applied. Discussion-Forum Service Tax Thu, 30 Jul 2009 11:16:13 +0530 https://www.taxtmi.com/forum/issue?id=1392