Cash refund of unutilized credit impermissible on closure of business

Bimal Jain , Last updated: 27 June 2019  
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The Larger Bench (LB) of Bombay HC rules in favour of Revenue, holds that cash refund u/s 11B of the Central Excise Act, 1944 (the Excise Act) is not permissible when CENVAT Credit on inputs remains unutilized on account of closure of manufacturing unit or inability to utilize input credit. Issue

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Bimal Jain
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