https://www.taxtmi.com/caselaws?id=344911 Rule 5 of the CENVAT Credit Rules, 2002 and Notification No. 11/2002-C.E. (N.T.) did not authorise the Revenue to reduce a refund claim by excluding credit relatable to raw materials and finished goods lying in stock on the closing date. The Court found that the refund had to be assessed against the credit standing in the assessee's CENVAT account for the relevant quarter, and the adjustment made by the authorities was inconsistent with the statutory scheme. The impugned order was set aside and the assessee was entitled to the balance refund. en-us Wed, 07 Jun 2017 00:00:00 +0530 Wed, 14 Feb 2018 14:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344911 Rule 5 of the CENVAT Credit Rules, 2002 and Notification No. 11/2002-C.E. (N.T.) did not authorise the Revenue to reduce a refund claim by excluding credit relatable to raw materials and finished goods lying in stock on the closing date. The Court found that the refund had to be assessed against the credit standing in the assessee's CENVAT account for the relevant quarter, and the adjustment made by the authorities was inconsistent with the statutory scheme. The impugned order was set aside and the assessee was entitled to the balance refund. Case-Laws Central Excise Wed, 07 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344911