Utilization of accumulated Cenvat credit restricted in terms of Erstwhile Rule 6(3)(c) of Cenvat Credit Rules, 2004 - Regarding

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....se & Customs, New Delhi Subject : Utilization of accumulated Cenvat credit restricted in terms of Erstwhile Rule 6(3)(c) of Cenvat Credit Rules, 2004 - Regarding. Kindly refer to your letter C.No. 715/Hqrs/Audit/08 dated 20-11-2008 on the subject mentioned above wherein the issue of utilization of accumulated Cenvat credit has been raised. The matter has been examined and the following po....

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....ervices, he may pay an amount equal to 8% of the value of such exempted/non-taxable service; OR (ii) Option No. 2 - He may pay an amount equivalent to Cenvat credit attributable to inputs and input services attributable to exempted goods and non-taxable/exempted services. As stated earlier, many taxpayers had accumulated Cenvat credit  balance as on 1-4-2008. The matter to be conside....