https://www.taxtmi.com/article/detailed?id=6143 The Explanation inserted into Rule 5 defines "export goods" as goods to be taken out of India, thereby excluding deemed exports from refund entitlement under Rule 5 of the Cenvat Credit Rules. This amendment overrides prior judicial interpretations that had allowed refunds for deemed exports and clearances to 100% EOUs effected against bond debits, and raises questions about retrospective application and consequent litigation risk. en-us Sat, 07 Mar 2015 05:40:14 +0530 Sat, 07 Mar 2015 05:40:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6143 The Explanation inserted into Rule 5 defines "export goods" as goods to be taken out of India, thereby excluding deemed exports from refund entitlement under Rule 5 of the Cenvat Credit Rules. This amendment overrides prior judicial interpretations that had allowed refunds for deemed exports and clearances to 100% EOUs effected against bond debits, and raises questions about retrospective application and consequent litigation risk. Articles Cenvat Credit Sat, 07 Mar 2015 05:40:14 +0530 https://www.taxtmi.com/article/detailed?id=6143