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TMI Blog2020 (9) TMI 435X X X X Extracts X X X X X X X X Extracts X X X X ..... port invoices for which payment has not been received in the relevant period (₹ 4,62,61,441/-), i.e. total ₹ 11,42,39,610/- in the denominator, whereas, in the numerator, they have considered ₹ 6,79,78,169/- i.e. the value of export services. In both the numerator and denominator, the amount of export turnover have to be considered i.e. ₹ 6,79,78,169/- when there is no domestic services rendered by the assessee appellant inasmuch as the value of all other services would be NIL in the given case. There is no reason to consider the aggregate of the value of export turnover payment of which has been received and those for which payment has not been received, since not required in the prescribed formula - When t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under Rule 5 of the CENVAT Credit Rules, 2004 (Credit Rules). Both the authorities below have denied the refund of an amount of ₹ 3,47,183/- while applying the formula prescribed for maximum permissible refund of credit amount. In the said formula, the authorities have included the value of export invoices for which payment has not been received in the relevant period while considering the value of total turnover so as to grant the refund proportionately. 3. Shri Pawan Maloo, learned Chartered Accountant, appeared for the appellant and Shri K. Choudhury, learned Authorized Representative appeared for the Revenue. 4. The learned Chartered Accountant submitted that the authorities have wrongly included the amount of export ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Amount = (Export turnover of goods + Export turnover of services) X Net CENVAT credit Total turnover Where, - (A) Refund amount means the maximum refund that is admissible; (B) Net CENVAT credit means total CENVAT credit availed on inputs and input services by the manufacturer or the output service provider reduced by the amount reversed in terms of sub-rule (5C) of rule 3, during the relevant period; (C) Export turnover of goods means the value of final products and intermediate products cleared during the relevant period and exported without payment of Central Excise duty un ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... value would comprise of the value of export invoices issued during the relevant period for which payment has been received plus, the export invoices issued in the preceding period for which payment is received in the relevant period less, the advance amount received in the relevant period for which services have not been completed. (iv) in the denominator, the total turnover would include the export value as derived in (iii) above plus value of all other services . In my view, value of all other services would necessarily mean the value of domestic services rendered by the service provider as it would be quite possible that the service provider would be engaged in rendering both export services as well domestic services . The law i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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