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2016 (6) TMI 759 - CESTAT CHENNAIDisentitlment to refund of Unutilised Credit under Rule 5 of the CENVAT Credit Rules, 2004 - intermediate goods were cleared by the appellant to the EOU and such goods having undergone processing by EOU resulting in output that was exported by that EOU - Held that:- There is no doubt that Revenue has conceived that the goods cleared by the appellant were intermediate goods and were cleared to EOU. The said EOU after processing that had exported. The finished goods arose out of that. Therefore, the appellant satisfied the condition of Rule 5(1) of CENVAT Credit Rules, 2004 effectuating export of the goods in question through the EOU. However the relief of refund of unutilised credit shall be subject to the working out of the quantum thereof in terms of in the formula prescribed by that Rule. There should be no dispute at all in respect of the calculation of quantum of refund applying the respective formula. Thus matter is remanded to the adjudicating authority to calculate the appropriate amount of refund admissible as per the formula prescribed by Rule 5 of CENVAT Credit Rules, 2004 and grant the same to the appellant as expeditiously as possible. - Decided in favour of assessee
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