MM FORGINGS LTD. Vs. CESTAT

JUDGEMENT

(1.) This is an appeal filed by the assessee, against the order of the Customs, Excise and Service Tax Appellate Tribunal (in short, 'the Tribunal') dated 21-1-2015.

(2.) The assessee is aggrieved by the fact that while it had claimed the refund of unutilized CENVAT credit, amounting to Rs. 40,26,692/-, the authorities below sanctioned the refund, only to the extent of Rs. 39,19,239/-. Thus, in effect, the authorities below [denied] the refund claim to the extent of Rs. 77,453/-.

(3.) To be noted, the assessee has claimed the refund, in terms of Rule 5 of the CENVAT Credit Rules, 2002 (in short, 'the 2002 Rules') read with Notification No. 11/2002-Central Excise (N.T.), dated 1-3-2002 (in short, 'the 2002 notification'). The said notification, in terms of Rule 5 of the 2002 Rules, provides for safeguards, conditions and limitations, for availment of refund of CENVAT credit of specified duty, allowed in respect of inputs, used in or in relation to manufacture of final products, which are cleared for export under a bond. The Revenue declined refund, as indicated above, for the entire amount claimed, based on the stand taken in paragraph 4 of the show cause notice dated 28-9-2004, (in short, 'SCN') issued to the assessee. In paragraph 4 of the SCN, the Revenue has set forth the calculations, inter alia, pertaining to the amount of unutilized credit lying in the assessee's CENVAT credit account. Pertinently, these calculations also form part of paragraph 4 of the impugned judgment, passed by the Tribunal. 3. 1 For the sake of convenience, the said calculations are extracted hereafter : <FRM>JUDGEMENT_203_LAWS(MAD)6_2017_1.html</FRM>