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TMI BlogRefund of Cenvat Credit - Prescribes safeguards, conditions and limitations for the purpose of Rule 5 of Cenvat Credit Rules, 2004X X X X Extracts X X X X X X X X Extracts X X X X ..... or the purpose of Rule 5 of Cenvat Credit Rules, 2004 Notification No. 05/2006 -Central Excise (N.T.) Dated 14-03-2006 G.S.R.(E) In exercise of the powers conferred by rule 5 of the CENVAT Credit Rules, 2004 (hereinafter referred to as the 'said rules'), and in supercession of the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.11/2002 - Central ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s for such refund are submitted not more than once for any quarter in a calendar year Provided that where,- (a) the average export clearances of final products or the output services in value terms is fifty percent or more of the total clearances of final products or output services, as the case may be, in the preceding quarter; or (b) the claim is filed by Export Oriented Unit, the claim for s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ds 4. The refund is allowed only in those circumstances where a manufacturer or provider of output service is not in a position to utilize the input credit or input service credit allowed under rule 3 of the said rules against goods exported during the quarter or month to which the claim relates (hereinafter referred to as 'the given period'). 5. The refund of unutilised input service credit wil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ty of refund under this rule. 2. "Total turnover" means the sum total of the value of,- (a) all output services and exempted services provided, including value of services exported; (b) all excisable and non excisable goods cleared, including the value of goods exported; (c) The value of bought out goods sold, during the given period. 6. The application in Form A, along with the prescribed en ..... X X X X Extracts X X X X X X X X Extracts X X X X
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