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2016 (6) TMI 673 - CESTAT CHENNAI

2016 (6) TMI 673 - CESTAT CHENNAI - TMI - Refund of CENVAT credit remaining unutilized - closure of the unit - Held that:- When the credit is not questioned as ungenuine and there is no circumstance brought out by Revenue that there is a possibility to utilize the credit and also there being no law to carry forward such credit for future or to transfer the same to others, in such circumstance, it may be considered that the duty element paid by the assessee to the treasury shall serve no useful p .....

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at the CENVAT credit remaining unutilized may be refunded under Rule 5 of the CENVAT Credit Rules, 2004 since the credit so remaining has no possibility of utilization in future, because of the closure of the unit. Appellant relies on the decision of the Hon ble High Court of Karnataka upheld in the case of Union of India Vs. Slovak India Trading Co. P. Ltd. 2008 (223) ELT A170 (SC) to buttress its claim. 2. Learned AR on the other hand says that there is no rule prescribed to consider the case .....

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5 only takes care of the cases where unutilized input credit pertains to manufacture of exportable goods or intermediate goods cleared for export. There is no rule at all to entertain refund of the unutilized CENVAT credit in respect of use of the input in the manufacture for domestic clearances. However, cases where assessees are not able to use the unutilized CENVAT credit due to closure of their business or any other circumstances beyond their control, law cannot be interpreted to cause absu .....

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