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Learn MoreLorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book.
Learn MoreLorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book.
Learn MoreA voluntary organisation established on 6th July 1949, BCAS has presently more than 9,000 members from all over the country. BCAS is a principle-centered and learning-oriented organisation promoting quality service and excellence in the profession of Chartered Accountancy.
Learn MoreLorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book.
Learn MoreLorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book.
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Refund of CENVAT credit with respect to input services received during the period prior to export taking place shall be available even in subsequent period, specially for 100% exporter of services.
Facts:
The Appellants, being 100% exporter of services, claimed refund of CENVAT credit under Notification No. 5/2006-CE (NT) with respect to input services received prior to export taking place. Vide Para 4 of the Notification (supra), refund can be granted only if assessee cannot utilise CENVAT credit against the goods exported during the quarter to which the claim relates. Accordingly, it was interpreted that refund is allowed only on input services consumed during the quarter in which export took place. Since in the present case, input services were not consumed in the quarter of export, the refund claim was rejected.
Held:
CBEC Circular No. 120/1/2010-ST clarified that CENVAT credit refund of past period in subsequent quarters shall be allowed specifically for 100% exporter of services, irrespective of date of CENVAT credit taken, if otherwise in order. Relying on the above Circular and also having regard to the fact that eligibility of CENVAT credit was not disputed and that the appellants cannot utilise CENVAT credit, the refund claim was allowed.