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2020 (3) TMI 1309 - CESTAT NEW DELHICalculation of refund amount - Correctness of formulae applied in calculation of the amount - total turnover considered for calculating the refund amount as per Rule 5 of the Credit Rules, whereas part of it was received in next quarter - HELD THAT:- The total turnover, as defined shall be export turnover of services or ₹ 6,40,71,967/- (plus) the value of all other services during the relevant period or nil (actual figure). Thus, the refundable amount shall be ₹ 6,40,71,967x 70,80,518/6,40,71,967 = Refund amount ₹ 70,80,518/-. It is found that the Court 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 is not the fact in the present case. As the appellant is exporting 100% of their services, accordingly, I hold that the appellant is entitled to refund of ₹ 70,80,518/-, whereas refund of ₹ 52,79,93/- is allowed and disbursed. I direct the Adjudicating Authority to grant the balance refund amount of ₹ 18,00,579/- within 30 days of receipt of copy of this order along with interest as per Rules.
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