Refund of CENVAT credit allowed for inputs and input services proportionate to export turnover under the prescribed formula and procedures. Rule 5 provides a formulaic refund of CENVAT credit for exports made without payment of duty or service tax: Refund amount = (Export turnover of goods + Export turnover of services) x Net CENVAT credit / Total turnover. Refunds cover credit on inputs and input services but exclude capital goods; credit must first be utilized against excise/service tax liabilities and is not available where drawback or rebate for the same duty/tax is claimed. Claims are filed quarterly in prescribed Form A with the divisional office and export-of-service claims require an auditor's certificate.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Refund of CENVAT credit allowed for inputs and input services proportionate to export turnover under the prescribed formula and procedures.
Rule 5 provides a formulaic refund of CENVAT credit for exports made without payment of duty or service tax: Refund amount = (Export turnover of goods + Export turnover of services) x Net CENVAT credit / Total turnover. Refunds cover credit on inputs and input services but exclude capital goods; credit must first be utilized against excise/service tax liabilities and is not available where drawback or rebate for the same duty/tax is claimed. Claims are filed quarterly in prescribed Form A with the divisional office and export-of-service claims require an auditor's certificate.
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