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Refund of Excise Duty in cash - What the assessee suggests is that the Cenvat credit given for acquisition of capital goods to a manufacturer, who is otherwise exempted from paying excise duty on its manufactured products, is revenue neutral. There is considerable force in such contention that when a manufacturer is entitled to refund of the entire excise duty, the refund to the Department of any adjusted Cenvat credit availed of would again have to be refunded by the Department by virtue of the exemption to which the assessee is entitled to. - The Department, fairly, accepts that the matter may require fresh consideration. - HC
Refund of Excise Duty in cash - What the assessee suggests is that the Cenvat credit given for acquisition of capital goods to a manufacturer, who is otherwise exempted from paying excise duty on its manufactured products, is revenue neutral. There is considerable force in such contention that when a manufacturer is entitled to refund of the entire excise duty, the refund to the Department of any adjusted Cenvat credit availed of would again have to be refunded by the Department by virtue of the exemption to which the assessee is entitled to. - The Department, fairly, accepts that the matter may require fresh consideration. - HC
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