RULE 11(2) OF CCR 2004

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..... GOOD MORNING DEAR EXPERTS. EXTRACTS from rule 11(2) of CCR 2004 . after deducting the said amount from the balance, if any, lying in his credit, the balance, if any, still remaining shall lapse and shall not be allowed to be utilized for payment of duty on any excisable goods, whether cleared for home consumption or for export. Sir, what is meant by this po .....

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..... rtion (1) whether the balance cenvat will totally end or (2) it will lying unutilized and will be utilized only after crossing 1.5 crores. As per plain reading of rule, the balance Cenvat Credit should totally end. One of my assessee is having the balance of ₹ 4,00,000/- on 31-03-2014 and he has balance of Cenvat Credit of ₹ 2,00,000/- after reversing ₹ 2,00,000/- in terms of abo .....

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..... ve Rules. Please advise whether this balance Cenvat Credit of ₹ 2,00,000/- can be utilized for payment of duty during October 2014 i.e after crossing ₹ 1.5 Crores. Please reply. Thanks and regards. - Reply By MARIAPPAN GOVINDARAJAN - The Reply = Rule 11 of CENVAT Credit Rules, 2004 is a transitional provision. It will not be applicable to your present case. - .....

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..... RULE 11(2) OF CCR 2004 - Query Started By: - DIPAK K Dated:- 3-12-2014 Central Excise - Got 1 Reply - Central Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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