CESTAT allows Refund on Unutilized Cenvat Credit as per Prescribed Calculation

Vistex Asia Pacific P Ltd Vs Commissioner of CGST (CESTAT Mumbai) In the recent case of Vistex Asia Pacific P Ltd Vs Commissioner of CGST (CESTAT Mumbai), the Tribunal ruled in favor of the appellant, allowing the refund claim for an amount of Rs.7,09,489/- for unutilized Cenvat credit accumulated due to exports. The appellant filed for a refund of unutilized Cenvat credit accumulated in their Cenvat Account due to exports under Notification 5/2006-CE(NT) as amended by Notification No. 27/2012-CE(NT) r/w Rule 5. The Adjudicating Authority initially sanctioned only part of the refund and reject...