Case Law Analysis
|Custom, Excise & Service Tax Tribunal
Rule 5 Cenvat Credit Rules | One-Year Limitation for Service Tax Refund Runs from Foreign Exchange Receipt Date, Not Quarter-End: CESTAT Hyderabad
CESTAT Hyderabad clarifies that the one-year limitation period for refund claims under Rule 5 of the Cenvat Credit Rules begins from the date of foreign exchange receipt, not the quarter-end. The ruling mandates strict adherence to the Foreign Inward Remittance Certificate (FIRC) and invoice correlation, impacting exporters filing refund claims.