2019 (9) TMI 582

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....tion of refund claim of the appellant made under Rule 5 of the CENVAT Credit Rules ('CCR' for short), 2004. 2. When the matter was taken up for hearing, Shri. P.C. Anand, Ld. Consultant, appeared for the assessee-appellant and Shri. L. Nandakumar, Ld. Authorized Representative, appeared for the Revenue. 3.1.1 Ld. Consultant for the appellant submitted that the appellant, who is providing services relating to accounting, hospitality reservation, mortgage, wealth management and financial planning to their customers, is taking CENVAT Credit on various input services and since the appellant exported a major portion of its services, it received consideration in convertible foreign exchange. He also submitted that considerable quantum of ex....

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....4/2016 (STA-I) (ST-I) Oct' 2014 to Dec' 2014 56/2016-R dt. 31.05.2016 9,14,641/- 6,12,074/- 3,02,567/- 7. 315/2016 (STA-I) (ST-I) Jan' 2015 to Mar' 2015 57/2016-R dt. 31.05.2016 6,92,451/- 5,65,798/- 1,26,653/- 8. 365/2016 (STA-I) (ST-I) Apr' 2015 to Jun' 2015 73/2016-R dt. 14.07.2016 8,99,077/- 8,20,475/- 78,602/- TOTAL 88,78,477/- 56,87,872/- 31,90,605/- Ld. Consultant thus concluded that the appellant having not met with success in its first appeal, is therefore before this forum. 3.2 Ld. Consultant further submitted that the denial of refund by the Revenue for the reason that for calculation of export turnover only the turnover during the par....

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....84 (A.P.)]. 12. The related question for consideration is whether the time limit is to be restricted to the date of FIRC or can be considered from the end of the quarter. The Tribunal in the case of Sitel India Ltd. (supra), has observed that the relevant date can be taken as the end of the quarter in which FIRC is received since the refund claim is filed for the quarter. 13. Revenue has expressed the view that relevant date in the case of export of services may be adopted on the same lines as the amendment carried out in the Notification No. 27/2012, w.e.f. 1-3-2016. Essentially, after this amendment the relevant date is to be considered as the date of receipt of foreign exchange. While this proposition appears attractive....