https://www.taxtmi.com/caselaws?id=212723 Delayed refund of accumulated Cenvat credit attributable to inputs used in exported goods under Rule 5 attracts compensatory interest under the Central Excise refund framework once the statutory period expires. Interest recognises deprivation of a refundable amount lawfully due. Where credit covered by refund claims is partly utilised before refund sanction, interest is not calculated on the full claimed amount for the entire delay period. It must be computed on the balance actually outstanding from time to time, ending proportionately upon utilisation or payment of the relevant amount. en-us Tue, 03 Apr 2012 00:00:00 +0530 Sat, 06 Oct 2012 10:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212723 Delayed refund of accumulated Cenvat credit attributable to inputs used in exported goods under Rule 5 attracts compensatory interest under the Central Excise refund framework once the statutory period expires. Interest recognises deprivation of a refundable amount lawfully due. Where credit covered by refund claims is partly utilised before refund sanction, interest is not calculated on the full claimed amount for the entire delay period. It must be computed on the balance actually outstanding from time to time, ending proportionately upon utilisation or payment of the relevant amount. Case-Laws Central Excise Tue, 03 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212723