2024 (3) TMI 5

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....laimed by the Appellant on export under LUT/ Bond had accumulated on account of amalgamation of Hazira Pipe Mill Ltd and Hazira Plate Ltd with it during August, 2010 and also on account of its merger with SEZ unit during the months of October 2010 and November, 2010 (ii)Whether the Commissioner (Appeals)was right in holding that the cenvat credit utilized by the appellant during the quarter April, 2011 to June, 2011 was higher than the cenvat credit availed by it during the said quarter, and therefore, there was no cenvat credit that had accumulated on account of exports, without considering the opening balance of credit as on 01.04.2011. (iii) Whether the Commissioner (Appeals) was right in reading Rule 5 of the Cenvat Cr....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....credit to the tune of Rs. 55,28,52,336/- had been availed by it on account of amalgamation of Hazira Pipe Mill Ltd and Hazira Plate Ltd during August 2010, while Cenvat credit of Rs. 149,99,39,291/- had been availed by it on account of merger of its SEZ unit in the months of October, 2010 and November, 2010. The total credit on account of amalgamation /merger was Rs. 205,27,91,617/- which was utilized by the Appellant during January, 2011 itself. The said fact has been demonstrated below by the appellant by way of tabular statement, showing monthly opening Cenvat credit balance, quantum of credit availed during month, quantum of credit utilized during the month and closing balance for the period April, 2010 to June, 2011. The tabular is sca....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..../4/2011-CX dated 29.04.2011 Circular No. 129/40/95- CX dated 29.05.1995 3. Shri M.G Rayka, Learned Additional Commissioner (AR) appearing on behalf of the Revenue reiterates the finding of the impugned order. 4. We have carefully considered the submission made by both sides and perused the records. We find that though the appellant has filed the refund claim under Rule 5 for accumulated cenvat credit against export of goods but subsequently they have utilized the credit, hence , now they are not claiming the refund, however, they are claiming the interest for the period from the date of filing of application till the date of utilization of cenvat credit for which the refund claim was lodged. Now to decide the claim of interes....