https://www.taxtmi.com/caselaws?id=45957 A deemed-export supply under the Export and Import Policy entitled an advance intermediate licence holder to refund of terminal excise duty, because the policy conferred a substantive benefit that could not be curtailed by the absence of a matching procedure in the Handbook of Procedures. The availability of an exemption route under the Central Excise Rules did not defeat the policy-based refund claim where the authority had earlier refused to treat the goods as intermediate goods. The Court also accepted entitlement to interest on the refunded amount, but rejected 24% per annum for lack of legal basis and fixed interest at 12% per annum from the date of the impugned order. en-us Wed, 16 May 2001 00:00:00 +0530 Mon, 31 Aug 2020 13:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=45957 A deemed-export supply under the Export and Import Policy entitled an advance intermediate licence holder to refund of terminal excise duty, because the policy conferred a substantive benefit that could not be curtailed by the absence of a matching procedure in the Handbook of Procedures. The availability of an exemption route under the Central Excise Rules did not defeat the policy-based refund claim where the authority had earlier refused to treat the goods as intermediate goods. The Court also accepted entitlement to interest on the refunded amount, but rejected 24% per annum for lack of legal basis and fixed interest at 12% per annum from the date of the impugned order. Case-Laws Central Excise Wed, 16 May 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=45957