Condonation of Delay denied: communication lapses and corporate restructuring found insufficient; prolonged inaction and lack of bona fides led to ref...
Export Support intervention INSIGHT launched to provide non financial capacity building, trade intelligence and pilot support with defined funding and...
Refund of unutilized CENVAT credit was claimed on closure of the manufacturing unit. Interpreting Rule 5 of CCR, 2004 as amended w.e.f. 01.04.2012, it was held that refund is statutorily permissible only where credit remains unutilized due to exports under bond/LUT, and not for "any other reason" as was possible prior to the amendment; being a creature of statute, the forum could not extend refund to factory closure, and the claim was rejected, leading to dismissal of the appeal. The contention that the adjudication travelled beyond the SCN was rejected since the SCN expressly proposed rejection under Rule 5 read with Section 11B. - CESTAT
Refund of unutilized CENVAT credit was claimed on closure of the manufacturing unit. Interpreting Rule 5 of CCR, 2004 as amended w.e.f. 01.04.2012, it was held that refund is statutorily permissible only where credit remains unutilized due to exports under bond/LUT, and not for "any other reason" as was possible prior to the amendment; being a creature of statute, the forum could not extend refund to factory closure, and the claim was rejected, leading to dismissal of the appeal. The contention that the adjudication travelled beyond the SCN was rejected since the SCN expressly proposed rejection under Rule 5 read with Section 11B. - CESTAT
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