13 June 2009
The company is manufacturing excisable product. The company availed the cenvat credit on raw material and on capital goods. Suppose company having balance in PLA say 50Lacs on 31.03.2009 and after words in 2009-2010 that excisable product ( finished goods ) is exempt from excise duty. Then balance in PLA account is refundable to the company or the company will not get the refund of that amount lying in PLA account
14 June 2009
It would certainly be eligible for getting the refund of amount in PLA balance. However the application for refund should be made for enabling the refund.
CAclubindia
