https://www.taxtmi.com/caselaws?id=52987 Modvat credit cannot be refunded in cash merely because the assessee is unable to use it. The Tribunal held that the Central Excise Rules permit utilisation of such credit against duty liability, and refund is available only in the limited situations expressly contemplated by the Act and the Rules, including specified export-related cases. Where duty has been paid through the credit account, any restoration must be made to that account rather than as a cash payment. On that basis, the claim for cash refund was rejected. en-us Fri, 16 Jul 2004 00:00:00 +0530 Wed, 03 Jul 2024 17:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52987 Modvat credit cannot be refunded in cash merely because the assessee is unable to use it. The Tribunal held that the Central Excise Rules permit utilisation of such credit against duty liability, and refund is available only in the limited situations expressly contemplated by the Act and the Rules, including specified export-related cases. Where duty has been paid through the credit account, any restoration must be made to that account rather than as a cash payment. On that basis, the claim for cash refund was rejected. Case-Laws Central Excise Fri, 16 Jul 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52987