https://www.taxtmi.com/caselaws?id=190269 Accumulated Cenvat credit arising from export clearances was treated as refundable in cash under Rule 5 of the Cenvat Credit Rules, 2002 where no duty liability existed against which the credit could be set off. The provision, read with the relevant notification, was applied as a beneficial mechanism to prevent loss of credit when utilisation is not possible. Denial of refund on the basis that the credit might have been absorbed elsewhere was found inconsistent with the export-driven accumulation of credit. Cash refund was therefore the appropriate relief for unutilised export-related credit. en-us Wed, 03 Jan 2007 00:00:00 +0530 Fri, 10 Feb 2017 13:14:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190269 Accumulated Cenvat credit arising from export clearances was treated as refundable in cash under Rule 5 of the Cenvat Credit Rules, 2002 where no duty liability existed against which the credit could be set off. The provision, read with the relevant notification, was applied as a beneficial mechanism to prevent loss of credit when utilisation is not possible. Denial of refund on the basis that the credit might have been absorbed elsewhere was found inconsistent with the export-driven accumulation of credit. Cash refund was therefore the appropriate relief for unutilised export-related credit. Case-Laws Central Excise Wed, 03 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190269