https://www.taxtmi.com/caselaws?id=361810 When a manufacturing unit closes and the assessee surrenders registration, unutilised CENVAT credit cannot be denied merely because no transfer of credit was made to the purchaser under Rule 10 of the CENVAT Credit Rules, 2004. The unit had ceased operations, become non-functional, and left no practical scope to utilise the credit. The settled view noted that, where adjustment or transfer is not possible and there is no legal prohibition, refund in cash of the unutilised credit is permissible. On that basis, rejection of the refund claim was unjustified and the unutilised CENVAT credit balance was refundable. en-us Mon, 04 Jun 2018 00:00:00 +0530 Thu, 14 Jun 2018 14:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361810 When a manufacturing unit closes and the assessee surrenders registration, unutilised CENVAT credit cannot be denied merely because no transfer of credit was made to the purchaser under Rule 10 of the CENVAT Credit Rules, 2004. The unit had ceased operations, become non-functional, and left no practical scope to utilise the credit. The settled view noted that, where adjustment or transfer is not possible and there is no legal prohibition, refund in cash of the unutilised credit is permissible. On that basis, rejection of the refund claim was unjustified and the unutilised CENVAT credit balance was refundable. Case-Laws Central Excise Mon, 04 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361810