https://www.taxtmi.com/caselaws?id=125136 Cash refund of unutilized Cenvat credit was treated as admissible where the assessee had closed its factory and surrendered its excise licence. The Tribunal noted that the relevant notification contemplated one-time deemed credit subject to filing requirements, but the dispute concerned the form of relief after cessation of manufacture. It applied Rule 5 of the Cenvat Credit Rules, 2002 and held that, once the factory had closed and the assessee had gone out of the credit scheme, the rules did not expressly bar refund in cash. The restriction limiting relief to credit-form adjustment was therefore unsustainable. en-us Wed, 26 Nov 2008 00:00:00 +0530 Sat, 05 Aug 2017 12:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=125136 Cash refund of unutilized Cenvat credit was treated as admissible where the assessee had closed its factory and surrendered its excise licence. The Tribunal noted that the relevant notification contemplated one-time deemed credit subject to filing requirements, but the dispute concerned the form of relief after cessation of manufacture. It applied Rule 5 of the Cenvat Credit Rules, 2002 and held that, once the factory had closed and the assessee had gone out of the credit scheme, the rules did not expressly bar refund in cash. The restriction limiting relief to credit-form adjustment was therefore unsustainable. Case-Laws Central Excise Wed, 26 Nov 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=125136