EMERSON INNOVATION CENTER Vs. COMMR. OF C. EX.

JUDGEMENT

(1.) HEARD both sides. Applicant filed this application for waiver of pre -deposit of service tax of Rs. 2,92,64,976/ - and interest.

(2.) THE demand is in respect of erroneous refund.

(3.) THE contention of the applicant is that the applicants filed a refund claim on 24 -4 -2012 in respect of export of services during the period 2012 -13. Hence the applicants are entitled for refund in view of the provisions of Rule 5 of the Cenvat Credit Rules, 2004 as well as the provisions of Notification No. 5/2006 -C.E. (N.T.), dated 14 -3 -2006. The contention is that the refund claim is filed within one year from the export of service. Hence the time limit provided under Section 11B of the Central Excise Act are not applicable. The applicants also rely upon the Boar's Circular No. ., dated 19 -1 -2010. The contention is that as per the circular it has been clarified that refund claims are to be quarterly in financial year and if it is not within a quarter the same is to be considered on merits irrespective of when the assessee has taken credit.