Transitional credit will be subjected to provisions of Rule 4(1) of CCR, 2004

Heavy Vehicles Factory Vs Commissioner of GST & CE (CESTAT Chennai) provisions of Rule 4 are very clear as regards the time limit for availment of Cenvat credit. We find that the provisions of Rules cannot be read in isolation. The entire set of Rules covering availment/utilization of credit i.e., CCR, 2004, has to be read in a holistic manner and interpreted in a harmonious manner. We also find that the non obstante clause in Rule 3 (2) is not with reference to the entire Cenvat Credit Rules but, with respect to sub-rule 1 of Rule 3 alone. It means to say that the provisions of other Rule...