https://www.taxtmi.com/caselaws?id=114408 Refund of CENVAT credit under Rule 5 and Notification No. 11/2002-C.E. (N.T.) was examined on the question whether Condition No. 5 required one-to-one correlation between inputs and exported final products. The assessee relied on the view that accumulated, unutilised credit remaining at the end of the relevant quarter was refundable, and the department did not distinguish the CENVAT provision from the earlier Modvat position. On a prima facie reading, the refunds appeared to have been made in accordance with the notification condition, and a strong prima facie case was found for waiver of pre-deposit and stay of recovery of the duty demand and penalty. en-us Wed, 22 Sep 2004 00:00:00 +0530 Tue, 15 May 2012 14:30:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114408 Refund of CENVAT credit under Rule 5 and Notification No. 11/2002-C.E. (N.T.) was examined on the question whether Condition No. 5 required one-to-one correlation between inputs and exported final products. The assessee relied on the view that accumulated, unutilised credit remaining at the end of the relevant quarter was refundable, and the department did not distinguish the CENVAT provision from the earlier Modvat position. On a prima facie reading, the refunds appeared to have been made in accordance with the notification condition, and a strong prima facie case was found for waiver of pre-deposit and stay of recovery of the duty demand and penalty. Case-Laws Central Excise Wed, 22 Sep 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114408