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Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
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AI Drafter - (New and Powerful) ✕ Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
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Issues: Whether refund of accumulated unutilised Cenvat credit was admissible under Rule 5 when the clearances were made to SEZ units and other exempt destinations.
Analysis: Clearances to SEZ units are treated as deemed exports. On that basis, the accumulated Cenvat credit in the appellant's credit account, remaining unutilised because of such clearances, was eligible for refund under Rule 5 of the Cenvat Credit Rules, 2004. The contrary view in the impugned order was therefore unsustainable.
Conclusion: The appellant was entitled to refund of the unutilised Cenvat credit. The impugned order was set aside and the original adjudicating authority's order was restored.
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