05 July 2012
One of our client is a manufacturer and is paying 12% duty on raw material, but rate of duty is 6% on finished product. This has resulted in accumulation of balance of cenvat credit of huge amount. Can refund of such amount be claimed. Also plz suggest accounting treatment.
06 July 2012
However, when we contacted department in this regard, they said there is no specific clause for such refund. Can you explain the possibility and procedure for claiming refund with a specific reference to legal provisions. Please tell us about any court judgement on this issue.
CAclubindia
