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TMI Blog2018 (6) TMI 631X X X X Extracts X X X X X X X X Extracts X X X X ..... ted availing cenvat credit and paying duty on the final products. 2. On 09.07.2004, two notifications being No. 29/2004-CE and No. 30/4004-CE dated 09.07.2004 were issued. Notification No. 29/2004-CE prescribed a concessional rate of duty subject to availment of credit. Whereas, Notification No. 30/2004-CE prescribed 'nil' rate of duty subject to an assessee not availing Cenvat credit. The appellant opted for payment of 'nil' rate of duty in terms of Notification No. 30/2004-CE. 3. As at the time of opting for Notification No. 30/2004-CE, they were having unutilized credit balance of Rs. 37,54,881.39 in their Cenvat account, they applied for refund of the same vide their refund claim dated 25.03.2008. The same ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lized Cenvat credit on the closure of the factory. 6. After hearing the Ld. AR, we note that there is no specific enabling provision of law granting refund of such accumulated credit to an assessee when he closes his factory and is not in a position to utilize the credit. As per the provision of Cenvat Credit Rules, credit is extended to the assessee only for utilization towards payment of duty of excise on their final products. If such utilization is not possible, such accumulated credit would not result in refund of the same in cash to the assessee. 7. No doubt, we note that the appellants have taken shelter under the provisions of Rule 5 of the Cenvat Credit Rules. The said Rule allows refund of the accumulated and unutiliz ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e to be governed by the time limit provided under the statute. General law of limitation is not available and the decisions where assesses have invoked extraordinary jurisdiction of High Courts and the Courts have applied the period of three years are inapplicable to the cases where the refund applications have been moved before the Revenue authorities. The ratio of the above decision is very clear laying down that Revenue authorities have no power to go beyond the statutory limitation prescribed under the Act, even though, the High Courts, in exercise of their extraordinary jurisdiction, may have applied the General period of limitation of three years. As such, the Tribunal being a creature of the statute has no jurisdiction to go beyond t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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