Refund under rule 5

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sonu khandwal (Querist)
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04 March 2017 upto what time I can file service tax refund under rule 5 of cenvat credit rules, 2004 for the quarter Jan,16 to mar, 16 I.e. Q4 of FY 2015-16.

Harshal Fifadra

Harshal Fifadra (Expert)
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05 March 2017 within a period of 1 year i.e. on or before 31 March 2017

sonu khandwal

sonu khandwal (Querist)
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06 March 2017 But the time limit of one year is from date of export of service.

Harshal Fifadra

Harshal Fifadra (Expert)
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06 March 2017 Correct. It is 1 year from the date of export of service. So, should you consider the first invoice of the quarter. However, there are case laws which has held the time limit of 1 year is to be reckoned from the date of receipt of export proceeds.

sonu khandwal

sonu khandwal (Querist)
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06 March 2017 yeah! agreed with u I want to know if I realised foreign exchange at beginnings of quarter e.g. 01-01-2016 then as per law the limit should end on 31-12-2016.

sonu khandwal

sonu khandwal (Querist)
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06 March 2017 whether the department will accept refund request upto 31-03-2017.

Harshal Fifadra

Harshal Fifadra (Expert)
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06 March 2017 Check if the realised exchange is for the invoice which has been raised in that quarter..If it is so then 31 Dec 2016 is the last date for filing the refund application

sonu khandwal

sonu khandwal (Querist)
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06 March 2017 thanks a lot but even I have a doubt wrt to forex realised as on 31-03-2016. whether in this case too last date will be 31-12-2016.

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