https://www.taxtmi.com/caselaws?id=766397 Accumulated CENVAT credit was treated as refundable on closure of a manufacturing unit because the scheme is intended to prevent cascading of duty, and credit lawfully earned on inputs and input services could not be denied merely due to cessation of operations. Rule 5 of the CENVAT Credit Rules, 2004 was identified as the operative refund provision, and in the absence of an express prohibition, the balance credit remained refundable. The limitation rule under Section 11B of the Central Excise Act, 1944 was held not to defeat the claim where the factory had closed and the refund was filed promptly after surrender of registration. en-us Wed, 18 Dec 2024 00:00:00 +0530 Tue, 25 Feb 2025 08:24:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766397 Accumulated CENVAT credit was treated as refundable on closure of a manufacturing unit because the scheme is intended to prevent cascading of duty, and credit lawfully earned on inputs and input services could not be denied merely due to cessation of operations. Rule 5 of the CENVAT Credit Rules, 2004 was identified as the operative refund provision, and in the absence of an express prohibition, the balance credit remained refundable. The limitation rule under Section 11B of the Central Excise Act, 1944 was held not to defeat the claim where the factory had closed and the refund was filed promptly after surrender of registration. Case-Laws Central Excise Wed, 18 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766397