Refund of unutilised CENVAT credit: provisional and verified refund mechanisms require monthly statements and declarations by manufacturers. Prescribes procedure for claiming refund of unutilised CENVAT credit: manufacturers must file a declaration with the jurisdictional Assistant or Deputy Commissioner detailing finished goods, manufacturing formula, input usage, tariff classification and duty paid; submit a monthly statement by the seventh day of the next month with input balances, values, duty, CENVAT credit taken and utilised, production and closing stock; after verification the jurisdictional officer may refund the unutilised balance and, if verification is delayed, must pay an 80% provisional refund by the thirtieth day of the month following the month under consideration.
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Provisions expressly mentioned in the judgment/order text.
Refund of unutilised CENVAT credit: provisional and verified refund mechanisms require monthly statements and declarations by manufacturers.
Prescribes procedure for claiming refund of unutilised CENVAT credit: manufacturers must file a declaration with the jurisdictional Assistant or Deputy Commissioner detailing finished goods, manufacturing formula, input usage, tariff classification and duty paid; submit a monthly statement by the seventh day of the next month with input balances, values, duty, CENVAT credit taken and utilised, production and closing stock; after verification the jurisdictional officer may refund the unutilised balance and, if verification is delayed, must pay an 80% provisional refund by the thirtieth day of the month following the month under consideration.
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