TMI Blog2014 (7) TMI 352X X X X Extracts X X X X X X X X Extracts X X X X ..... CENVAT credit is accumulated in the CENVAT credit account due to the exports only. It is also a fact on record that the factory is closed therefore, the appellant is not able to utilize the amount lying in the CENVAT credit account. Accordingly, as per the Circular cited above, the appellant is entitled to take the amount in cash. Therefore, I direct the concerned authorities to issue the refund i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nput credit availed pertaining to the said clearance. The Revenue was of the view that as the appellant was not maintaining a separate account for their exempted as well as dutiable final products therefore, they are required to reverse 8% of the value of the exempted goods. During the course of investigation, the appellant paid a sum of ₹ 2,00,000/- and ₹ 11,32,694.69 through CENVAT c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not in a position to maintain the CENVAT account. Hence the refund amount ought to have been paid in cash as per the Circular No. 220/54/96-CX dated 04.06.1996. CENVAT credit is accumulated in their account due to export of the goods and the same could not be utilized by the appellant as their factory is closed. 5. On the other hand, the learned A.R. submits that as they have reversed the amou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... inst the goods exported during the quarter/ month to which the claim relates. 8. It is not in dispute that the appellant is an exporter and the said CENVAT credit is accumulated in the CENVAT credit account due to the exports only. It is also a fact on record that the factory is closed therefore, the appellant is not able to utilize the amount lying in the CENVAT credit account. Accordingly, a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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