Service Tax - Utilisation of accumulated CENVAT credit restricted in terms of erstwhile Rule 6(3)( c) of CENVAT Credit Rules, 2004 - Regarding.

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....estricted in terms of erstwhile Rule 6(3)( c) of CENVAT Credit Rules, 2004 - Regarding. The issue of restriction of utilisation of accumulated CENVAT credit in terms of erstwhile Rule 6 (3)(c) of CENVAT Credit Rules, 2004 has been examined. The following points emerged during its consideration: Ø Prior to 01.04.2008 [before the amendment in Rule 6(3)] the option available to the taxpayer,....

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....mount equivalent to CENVAT Credit attributable to inputs and input services attributable to exempted goods and non-taxable / exempted services. Ø As stated earlier, many taxpayers had accumulated CENVAT credit balance as on 01.04.2008. The matter to be considered was whether this credit balance should be allowed to be utilised for payment of service tax after 01.04.2008. Ø As no la....