Refund limitation under Rule 5 runs from receipt of convertible foreign exchange, not invoice date.

For refund claims under Rule 5 and the notification, the one-year filing period is to be computed from the date of receipt of convertible foreign exchange, evidenced by the FIRC, rather than from the date of invoice for the export service. The Tribunal recorded that this position was already settled and consistently followed in its earlier view, so the Revenue's objection based on invoice date was not sustainable. On that basis, the refund claim was treated as filed within the relevant limitation period.

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Issues: Whether, for refund under Rule 5 and the notification issued thereunder, the period of one year for filing the refund claim is to be reckoned from the date of invoice of the export service or from the date of receipt of convertible foreign exchange.

Analysis: The Tribunal noted that the point was no longer res integra and that its consistent view was that the relevant date for filing the refund claim is the date of receipt of convertible foreign exchange or the FIRC, and not the date of invoice. In view of the settled position, the Revenue's challenge to the refund was unsustainable.

Conclusion: The relevant date for computing the one-year period is the date of receipt of convertible foreign exchange or FIRC. The Revenue's appeal fails and is dismissed.

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