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Cenvat refund (custome duty and service tax)

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Querist : Anonymous

Querist : Anonymous (Querist)

24 February 2013 We are a New exciseable unit. We are using imported raw material only (paying duty 23% BCD+CVD+SAD) and sell goods in domestic market after charging ED(12.36%). we have lying big amount of accumlated cenvat credit of capital goods import, service tax on services taken during project time, Custom duty paid on Imported Raw mataerial.
As excise duty on finish goods (12.36%) is lower than Cenvat credit on Imported Raw material(CVD 12% SAD 5%)the already lying balance in cenvat account will continue to remain unutilise.
Can any body guide poosible solutions to this problem.
How to claim refund or utilise the credit balance.

Arun Kumar Singh

Arun Kumar Singh (Expert)

24 February 2013 You can apply for refund of excess credit of cenvat but a refund claim u/s 11B has to be filed within one year from the relevant date.

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