Dear All,
Please let me know, is there any provisions to take refund of un utilised credit lying in books, which is more than 1 crore. We are not any export oriented or direct exports. OR any other provisions to transfer to our other units.
Thanking you all in advacce.
Srinivas
Participant Seeks Refund or Transfer of Unutilized CENVAT Credit; Rule 5 Cited for Limited Refund Options A participant inquired about the possibility of obtaining a refund or transferring unutilized CENVAT credit exceeding 1 crore, noting that they are not involved in exports. One respondent suggested transferring the credit through the Large Taxpayer Unit (LTU) procedure, while another mentioned that refunds are generally not available except under Rule 5 of the CENVAT Credit Rules, 2004. A third respondent advised providing more details, as the query was incomplete and could pertain to either CENVAT or VAT input credit. (AI Summary)
TaxTMI 
TaxTMI 
