Refund under Rule 5

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..... Refund under Rule 5
Query (Issue) Started By: - Rudrayani Shedjale Dated:- 26-12-2015 Last Reply Date:- 31-12-2015 Central Excise
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Central Excise
Hello if we want to claim under rule 5 of CCR for refund of accumulated cenvat credit, i do we have to maintain the excess balance in our cenvat account through out the quarter?? i mean if we are claiming for 10laks & on the d .....

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..... ate of claiming we have the balance of 15 laks but on the 1st day of quarter if we are having balance of 9laks are we eligible for refund?? please guide. Reply By CS SANJAY MALHOTRA: The Reply: Dear Rudrayani, If you are filing the Refund claim say for ₹ 10 Lacs for a particular quarter, the same means that the accumulated CENVAT Credit at the end of that particular quarter should be min .....

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..... imum or equal to ₹ 10 Lacs. The same should be maintained until and unless the refund is claimed from the department or alternatively, CENVAT refund should be debited at the time of filing application. Reply By MARIAPPAN GOVINDARAJAN: The Reply: Thanks for the useful information. Reply By Rudrayani Shedjale: The Reply: Dear Sir Thanks for the information. Reply By PARTHASARATHY V: T .....

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..... he Reply: Hello, If you wish to claim refund under Rule 5 of CCR 2004, Exports should be made under LUT (without payment of duty). The Refund will be calculated on the following basis Refund amount= (Export turnover of goods + Services) x Net Cenvat Credit TOTAL TURNOVER The calculated amount to be debited to the Cenvat Creidt Register (Cenvat or Service Tax) and Form R should be filed .....

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..... in duplicate with relevant details of debit made, export made, value of export goods etc. This is the procedure to claim the Refund under Rule 5
Discussion Forum - Knowledge Sharing .....

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