Utilisation of Accumulated Cenvat credit as on 10.09.2004

Accumulated credit on 10.09.2004 can be utilized under transitional rule 11 of the new Cenvat credit rules, 2004

Brief of the case:

The CESTAT Mumbai in the case of Arbes Tools Pvt. Ltd. vs. CCEx held that as per Rule 11(1) of the Cenvat Credit Rules, 2004 read with Notification 23/2004-CE, the amount of credit earned by the manufacturer under Cenvat Credit Rules, 2002, which existed prior to 10.9.2004, can be utilized by them as per transitional rule 11 of the new Cenvat credit rules, 2004.

 Facts of the case:

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