pls provide difference between refund claim and rebate claim
why two word used?? pls give information about procedure.
regds
kuldeep singh
pls provide difference between refund claim and rebate claim
why two word used?? pls give information about procedure.
regds
kuldeep singh
please refer the rule 18 and 19 of Central Excise rule
Basic distinction between refund and rebate is that in case of refund, the amount is returned to the person who had paid it, while in case of rebate, the amount may be retured to some one else too.
Dear Kuldeep,
Refund is some thing which can arise in the normal course of transactions. Like Excess payment of duty, paid duty where it was not required to be paid.
Rebate is some thing which arises out of export transactions.
Regards
Rebate is a mechanism by which alternatives to get monies back have been notified. At times they are simplar than the refund under rule 5. Also option of rebate on duty paid allows usage of old credits without link to the use for the exports.
Mr. Arun, thanx for ur Answer. Can you please give any example.....
For example, in case of rebate of duty paid on inputs, the amount is returned to the exporter who cleared final products while duty was actually paid by supplier of inputs. Similarly, in case of export through merchant exporter, duty paid by manufacturer, while rebate can be granted to merchant exporter.
Under Section 11B of the Central Excise Act, refund includes rebate also. Rebate as prescirbed under Rule 18 is a sort or mode of refund.
''Refund is some thing which can arise in the normal course of transactions. Like Excess payment of duty, paid duty where it was not required to be paid.
Rebate is some thing which arises out of export transactions.""
Absolutely correct
Thnx
Amitabha
Dear Sir
I have a question in my mind that if a manufacturer will make an export under LUT and the manufucturer used raw material which was purchased after paying excise duty from local market or inter state, then the input credit can be claimed in cash to the central excise dept. Coz this input credit never be utilised by this manufacturer. If claim is possible then what documents will be furninsed??
Email id: lahasukanta @ gmail.com
For detailed discussion refer
https://www.indiataxfin.com/difference-terms-rebate-refunds/
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