2020 (3) TMI 1309

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....ant. Shri Y. Singh, Authorized Representative for the respondent. ORDER The dispute in this appeal is whether the formula for calculation of refund amount under Rule 5 of Cenvat Credit Rules, 2004, has been rightly applied by the Court Below, whereby the refund claim of Rs. 70,82,462/- for the period October, 2016 to December, 2016, for admissible credit, was truncated and thus sanctioned refu....

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....nvat Credit. / Total turnover 4. Further, the 'Export Turnover' has been defined under Clause D, and 'Turnover' is described in Clause (E) as follows: (D) Export Turnover of Services means the value of the export service calculated in the following manner, namely:- "Export Turnover of services = payments received during the relevant period for export services" + export services whose provisi....

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....the appellant had exported services amounting to Rs. 6,40,71,967/-, out of which amount of only Rs. 4,77,78,433/- was received in convertible foreign exchange during the quarter October, 2016 to December, 2016 and the balance in the next quarter. Accordingly, the ld. Adjudicating Authority has considered Rs. 4,77,78,433/- as Export Turnover, whereas the entire Rs. 6,40,71,967/- has been considered....

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.... amount Rs. 70,80,518/-. 9. Considering the order of the Court Below, I find that it has misconceived the formula by taking billing amount of export of services as the amount of total turnover or gross turnover for calculation of refund. Evidently, the formula given is for calculation of proportionate refund, where an assessee has got export turnover in part and domestic turnover in part, which i....