Transitional provision (Rule 11 of the CCR): - Central Excise Practice Manual (OLD) - Central Excise

4. Transitional provision (Rule 11 of the CCR): The manufacturer who opts for exemption based on the value or quantity of clearances in a financial year shall pay an amount equal to the credit for the inputs lying in stock or used in the finished goods lying in stock on that date. Balance amount in credit account shall lapse and will not be allowed to be used for payment of duty. A unit availing SSI exemption is eligible to switch over to Cenvat scheme after crossing the SSI limit or any time before that. While doing so, Cenvat credit can be taken on the stocks of raw material, stock in process and contained in the finished goods.