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Issues: Whether accumulated Cenvat credit of AED (T&TA) is refundable under Rule 5 of the Cenvat Credit Rules, 2002 when the final product is exported and not liable to the same duty.
Analysis: The credit accumulated on inputs used in the manufacture of exported goods was held refundable under Rule 5 where the final product was exported and did not suffer the same duty. The issue was treated as settled by earlier Tribunal decisions affirmed by the High Court, and a subsequent Board circular also clarified that such refund is admissible. The clarification was taken to apply retrospectively.
Conclusion: Refund of accumulated Cenvat credit of AED (T&TA) was admissible to the assessee.
Ratio Decidendi: Where exported final products are not liable to the same duty, accumulated Cenvat credit attributable to inputs used in their manufacture is refundable under Rule 5 of the Cenvat Credit Rules, 2002.
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