Refund Allowed: Rule 5 CENVAT Credit Rules Misinterpreted, Initial Rejection Overturned for Export Clearance Below 50% Requirement.

Refund Allowed: Rule 5 CENVAT Credit Rules Misinterpreted, Initial Rejection Overturned for Export Clearance Below 50% Requirement. https://www.taxtmi.com/highlights?id=30022 Refund - Rule 5 of the CENVAT Credit Rules, 2004 - Refund was rejected on the ground that the average export clearance of final products of the appellant in the preceding quarter was less than 50% of the total clearance and did not satisfy the condition in Notification No. 5/2006 (C.E.) N.T. dated 14.3.2006 - The interpretation resorted by the authorities is incorrect - refund allowed - AT en-us Thu, 30 Jun 2016 15:56:21 +0530 Thu, 30 Jun 2016 15:56:21 +0530 TaxTMI RSS Generator Refund Allowed: Rule 5 CENVAT Credit Rules Misinterpreted, Initial Rejection Overturned for Export Clearance Below 50% Requirement. https://www.taxtmi.com/highlights?id=30022 Refund - Rule 5 of the CENVAT Credit Rules, 2004 - Refund was rejected on the ground that the average export clearance of final products of the appellant in the preceding quarter was less than 50% of the total clearance and did not satisfy the condition in Notification No. 5/2006 (C.E.) N.T. dated 14.3.2006 - The interpretation resorted by the authorities is incorrect - refund allowed - AT Highlights Central Excise Thu, 30 Jun 2016 15:56:21 +0530 https://www.taxtmi.com/highlights?id=30022