Refund of unutilised cenvat credit

[kiran kujur]

if any asseessee availing notification no. 20/2007 dated 25-4-07 as amended have accumulated cenvat credit of capitak goods and s.tax on input services, but they are in a position to utilise whole of cenvat credit on input.are they can get refund of unutilised credit on inputs by utilising the credit of cap. goods and s.tax and if they can get the same, at which extent?pl illustrate an example.

AI Summary

Refund of Unutilized CENVAT Credit Limited to Inputs per Rule 5A; Input Services and Capital Goods Not Included. An individual inquired about the refund of unutilized CENVAT credit under a specific notification, questioning whether credit from capital goods and input services could be utilized to claim a refund for inputs. A respondent clarified that, according to Rule 5A of the CENVAT Credit Rules 2004, refunds are only applicable to inputs, not input services or capital goods. It was advised to utilize credits from input services and capital goods first to maximize benefits under the scheme.