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CENVAT Credit Reversal: No Automatic 5%/6% Payment for Trading Activities Without Timely Option u/r 6(3.
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....Reversal of CENVAT Credit - trading activity - exempted service or not - in either of the two options given in sub-rule (3) of Rule 6, there is no provisions that if the assessee does not opt any of the option at a particular time, then option of payment of 5% or 6% will automatically be applied. - AT....
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