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No denial of refund on non-realisation of export proceeds

Cenvat Credit - By: - Bimal jain - Dated:- 1-8-2015 - Dear Professional Colleague, We are sharing with you an important judgement of the Hon ble CESTAT, Delhi in the case of P&P Overseas Vs. Commissioner of Central Excise, Delhi-III [2015 (2) TMI 1009 - CESTAT NEW DELHI] on the following issue: Issue: Whether refund of accumulated Cenvat credit filed under Rule 5 of the Cenvat Credit Rules, 2004 ( the Credit Rules ) can be denied on the ground that the sales proceeds in respect of goods expo .....

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d Cenvat credit under Rule 5 of the Credit Rules. The Department denied the refund claims on following two grounds: Impugned services are not eligible for Cenvat credit; and Sales proceeds in respect of goods exported have not been received by the Appellant On appeal being filed to the Ld. Commissioner (Appeals), denial of refund claims was upheld. Being aggrieved, the Appellant preferred an appeal before the Hon ble CESTAT, Delhi. Held: The Hon ble CESTAT, Delhi held that denial of refund claim .....

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by the Ld. Commissioner (Appeals) and is no longer valid. Accordingly, the Hon ble Tribunal allowed the refund claims filed by the Appellant. Important to Note Here it is pertinent to note that vide the Union Budget 2012, Rule 5 of the Credit Rules got substituted, by a new rule, resulting into various changes in the refund mechanism available for exporter of goods/ services. Following the amendment in Rule 5 of the Credit Rules, the Central Board of Excise and Customs ( the CBEC ) had issued No .....

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worthwhile to note the changes made in Rule 5 of the Credit Rules in the Union Budget, 2015 vide Notification No. 06/2015-C.E. (N.T.) dated March 1, 2015 (Effective from March 1, 2015), in term of which Export goods have been defined by inserting a Clause (1A) in Explanation 1 to Rule 5 of the Credit Rules, which is reproduced as under: (1A) export goods means any goods which are to be taken out of India to a place outside India . Accordingly, with the insertion of the words taking goods out of .....

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