Home Forum Central Excise Month 4 2011 2011 (4) This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
Refund of accumalated Cenvat Credit - Central ExciseExtract One of our maufacturer is manufacturing Potassium Iodate falling under Ch.28. They are under control of Central Excise and cleared the goods on payment of duty @ 5% under Noti. No. 02/2011-CE. They imported their raw material - Iodine and paying the customs duty and CVD. The rate of CVD is 10% plus ACD @ 4%. The unit is availing the benefit of Cenvat Credit available under Cenvat Credit Rule, 2004 . The queation is that the unit is discharged the central excise duty @ 5 % at the time of clearance of finished goods whereas cenvat credit is being taken @ 10% +4%. Hence the unit is having un-utilised balance of cenvat credit in the cenvat credit register. Whether the assessee can file refund claim of unutilised balance of cenvat credit under rule 5 of Cenvat Credit Rule, 2004 . Please note that the unit is cleared finished goods for Home consumption only not exported whereas the rules speak about export. Please clirify the point.
|