No demand in terms of rule 6(3)(i) of Cenvat Credit Rules if exercised option under rule 6(3)(ii)

Steel Authority of India Limited Vs Commissioner of CGST & CX (CESTAT Kolkata) Conclusion: Since assessee had exercised option in terms of Rule 6(3)(ii) of the Cenvat Credit Rules and once this fact was established from the materials on record, there could be no demand in terms of Rule 6(3)(i) of the Cenvat Credit Rules and also nowhere it was mentioned that an assessee should pay any amount higher than that of the actual amount calculated under the procedure prescribed under Rule 6(3A) of the Cenvat Credit Rules. Held: Assessee-company after coming into force of the provisions of substitu...