TaxTMI 
TaxTMI 
Is the Refund of balance / accumulated Cenvat Credit available to a Service Provider if decides to close the business and surrender the registration?
If yes, what is the procedure?
Refund of accumulated credit to a Service provider on closure of business / surrender of Registration
07 Mar 2014 
3 Replies 
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Refund of Cenvat credit may be available on business closure subject to notified conditions and administrative submission to tax authorities.
Refund of accumulated Cenvat credit on business closure or registration surrender falls under Rule 5 of the Cenvat Credit Rules, 2004, which permits utilisation of unutilised credit subject to conditions and notifications; the document records no specific circularised procedure, and advises approach to the appropriate tax officer with a written submission to seek administrative processing. (AI Summary)
Refund of accumulated Cenvat credit on business closure or registration surrender falls under Rule 5 of the Cenvat Credit Rules, 2004, which permits utilisation of unutilised credit subject to conditions and notifications; the document records no specific circularised procedure, and advises approach to the appropriate tax officer with a written submission to seek administrative processing. (AI Summary)