https://www.taxtmi.com/caselaws?id=53997 Refund of accumulated Cenvat credit under Rule 5 cannot be reduced merely because the credit was reflected as an opening balance on the first day of the quarter, and credit relatable to capital goods cannot be excluded on that basis alone. The rule and the notification apply to credit relating to inputs used in exported goods where the credit cannot be utilised for domestic duty payment. The prior authority erred in treating the opening balance as outside the refundable pool and in separately deducting capital goods credit. The matter was remanded for fresh examination of whether the credit related to inputs in exported goods and whether it was utilisable for domestic clearances. en-us Mon, 14 Mar 2005 00:00:00 +0530 Fri, 24 May 2024 13:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53997 Refund of accumulated Cenvat credit under Rule 5 cannot be reduced merely because the credit was reflected as an opening balance on the first day of the quarter, and credit relatable to capital goods cannot be excluded on that basis alone. The rule and the notification apply to credit relating to inputs used in exported goods where the credit cannot be utilised for domestic duty payment. The prior authority erred in treating the opening balance as outside the refundable pool and in separately deducting capital goods credit. The matter was remanded for fresh examination of whether the credit related to inputs in exported goods and whether it was utilisable for domestic clearances. Case-Laws Central Excise Mon, 14 Mar 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53997