TMI Blog2011 (9) TMI 964X X X X Extracts X X X X X X X X Extracts X X X X ..... ir construction of the provision as well, the Rule entitles the manufacturer to refund of the Cenvat Credit where for any reason such adjustment is not possible, the manufacturer shall be allowed refund of such amount subject to such safeguards, conditions and limitations as may be specified by the Central Government by notification - No notification of the Central Government setting out safeguard ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CESTAT in Appeal No. 1163 of 2010. The respondent is a manufacturer of bulk drugs and had operated under the Cenvat scheme, used to export finished goods and claimed refund of Cenvat Credit accumulated on account of such exports in terms of Rule 5 of the Cenvat Credit Rules, 2004 (for short the Rules ). The assessee wound up their operations and surrendered its registration certificate on 7-8 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ourt. In Union of India v. Slovak India Trading Co. Pvt. Ltd. 2008 (223) ELT A170 (SC), the Supreme Court dismissed the SLP after recording that the learned Additional Solicitor General for India had fairly conceded that the several decisions of the Tribunal relied upon for granting relief to the assessee in terms of refund of Cenvat credit were not appealed against the Union and thereby implying ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ely settled in favour of the assessee . The Larger Bench of the Tribunal clearly observed if an assessee is not able to use the credit on account of any reasons, whatsoever (which may be closure of his factory or final products being exempted etc.) the refund becomes admissible in cash or by way of credit entry in PLA to the extent duty paid in cash or out of PLA during the relevant period . R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le entitles the manufacturer to refund of the Cenvat Credit where for any reason such adjustment is not possible, the manufacturer shall be allowed refund of such amount subject to such safeguards, conditions and limitations as may be specified by the Central Government by notification. No notification of the Central Government setting out safeguards, conditions and limitations for the refund, in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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