Rule 3(5) of cenvat credit

CA PRATEEK CHOUDHARY (EXECUTIVE) (94 Points)

16 July 2013  

Dear All

Can anybody explain me concept of "pay an amount equal to the credit availed" in rule 3(5) of cenvat credit rules,2004.

Pay here means actually payment through PLA or reversal of the input credit taken??

If possible please explain with the help of a JOURNAL ENTRY.

Response awaited.

Thanks

Prateek