HC: Refund of Unutilised Cenvat Credit Ordered; Accumulated Credit Doesn’t Lapse

Leo Prime Comp Private Limited Vs Deputy Commissioner of Central Excise (Madras High Court) In a significant ruling, the High Court has directed the Customs and Central Excise Department to refund accumulated and unutilised CENVAT credit, debited as excise duty by a defunct 100% Export Oriented Unit (EOU) against export goods. The court set aside an Order-in-Original dated January 25, 2017, which had rejected 25 rebate claims filed by the petitioner under Rule 18 of the Central Excise Rules, 2002, for exports made between March 2012 and October 2013. The writ petition was filed by the Insolven...