Dear Friend,
Our Company has faced following problem
We export goods to various countries. Our Product is excisable.
We take Cenvat credit at the time of purchase and export the goods claiming duty drawback at the rate allowable to the exporter mentioned in Duty drawback rates as "Drawback when cenvat facilities has been availed ". We export the goods under LUT that is without paying applicable excise duties.
So far there was no problem. But in the course of EXCISE audit , the excise officer has raised objection and said that duty drawback was not available when Cenvar credit had been taken on the purchase of the goods in relation to exports.
Is the logic tenable
Rgds
CChatterjee
CAclubindia
