Refund of CENVAT credit: proportionate refund for exports without duty based on export turnover and net credit. A manufacturer or service provider exporting without payment of duty under bond or letter of undertaking may claim refund of CENVAT credit determined by the formula: (Export turnover of goods + Export turnover of services) x Net CENVAT credit / Total turnover. Key terms are defined: Net CENVAT credit (credit availed less reversals), export turnover of goods and services (payments and advances adjustments), and Total turnover (aggregate of excisable goods cleared, services including exports, and inputs removed against invoice). Refunds are subject to Board-specified procedure and excluded where drawback or rebate has been claimed.