Refund under Rule 5

[Rudrayani Shedjale]

Hello

if we want to claim under rule 5 of CCR for refund of accumulated cenvat credit, i do we have to maintain the excess balance in our cenvat account through out the quarter??

i mean if we are claiming for 10laks & on the date of claiming we have the balance of 15 laks but on the 1st day of quarter if we are having balance of 9laks are we eligible for refund??

please guide.

AI Summary

Refund under Rule 5 requires maintained accumulated CENVAT credit or immediate debit and exports under LUT with Form R filing.
Refund under Rule 5 requires that the amount claimed be backed by at least an equal accumulated CENVAT credit balance at quarter-end and that this balance be maintained until claim or be debited at filing. Exports must be under a Letter of Undertaking without duty. Refund is calculated by applying export turnover (goods and services) over total turnover to net CENVAT credit; the resulting amount is debited in the CENVAT Credit Register and filed via Form R with supporting details.