Transitional Provisions

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....isted prior to the 10th day of September, 2004, and remaining unutilized on that day shall be allowed as CENVAT credit to such manufacturer or provider of output service under these rules, and be allowed to be utilized in accordance with these rules. (2) A manufacturer who opts for exemption from the whole of the duty of excise leviable on goods manufactured by him under a notification based on....

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....ken by him in respect of inputs received for use in the manufacture of the said final product and is   lying in stock or in process or is contained in the final product lying in stock, if,- (i) he opts for exemption from whole of the duty of excise leviable on   the said final product manufactured or produced by him under a notification issued under section 5A of the Act; or....

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....he opts for exemption from payment of   whole of the service tax leviable on such taxable service under a notification issued under section 93   of the Finance Act, 1994(32 of 1994)   and after deducting the said amount from the balance of CENVAT credit, if any, lying in his credit, the balance, if any, still remaining shall lapse and shall not be allowed to be utiliz....