Prescribes the procedure for claiming refund of unutilised CENVAT credit - 025/2007 - Central Excise - Non Tariff

Prescribes the procedure for claiming refund of unutilised CENVAT credit

 New Delhi, the 25^th April, 2007

5, Vaisakha 1929 Saka.

Notification  No. 25/2007 - Central Excise (N.T.)  

     In exercise of the powers conferred by rule 5A of the CENVAT Credit Rules, 2004, the Central Government hereby prescribes the following procedure for claiming refund of unutilised CENVAT credit, subject to the conditions prescribed in notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 20/2007-Central Excise, dated the 25^th April, 2007,-

(a) the manufacturer shall file a declaration with the Assistant Commissioner of Central Excise or the Deputy Commissioner of Central Excise, as the case may be, having jurisdiction over the factory of manufacture describing the finished goods proposed to be manufactured along with their rate of duty leviable and manufacturing or processing formula with particular reference to quantity or proportion in which the materials are actually used as well as the quality. The declaration shall also contain the tariff classification, rate of duty paid or payable on the materials so used, both in words and figures, in relation to the finished goods to be manufactured and cleared.  However, if any particulars given in the declaration have undergone any changes, the revised declaration shall be filed by the manufacturer;

(b) the manufacturer shall submit a statement containing details namely quantity of opening balance of inputs, quantity of inputs received during the month, value thereof, duty paid or payable thereon, amount of Cenvat Credit taken, quantity of inputs used during the month, quantity of final products manufactured, quantity of inputs lying in stock at the end of the month, amount of Cenvat credit utilised for payment of duty on the final product and amount of Cenvat credit lying in balance to the Assistant Commissioner or Deputy Commissioner of Central Excise, as the case may be, by the 7^th day of the next month for claiming refund;

(c) the Assistant Commissioner or Deputy Commissioner of Central Excise, as the case may be, after such verification, as may be deemed necessary, may refund the balance amount of unutilised credit, if any, at the end of the month under consideration to the manufacturer within a period of 3 months from the date of receipt of the statement; and

(d) if there is likely to be any delay in the verification, the Assistant Commissioner or Deputy Commissioner of Central Excise, as the case may be, shall refund 80% of the amount on provisional basis by the 30^th day of the month following the month under consideration.

(Rahul Nangare)

Under Secretary to Government of India

[F.No.267/45/2007-CX.8]