No Cash Refund of MODVAT/CENVAT for Closed Factories u/r 5; Section 11B Limits Apply.

Refund of the MODVAT/CENVAT in cash - factory is closed - Rule 5 of Cenvat Credit Rules, 2004 - no refund can be sanctioned under Section 11B if the assessee is unable to utilise cenvat credit on account of closure of the manufacturing activities. .....

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