EXCISE/ST/VAT : Where goods have been supplied to a project awarded under International Competitive Bidding (ICB), treating such supplies as deemed exports, refund of accumulated credit in terms of Rule 5 of CENVAT Credit Rules, 2004 is admissible only, if person claiming such refund is able to establish actual and physical export of goods cleared by him for export under bond or against a letter of undertaking. These conditions are substantial and in case of non-fulfilment of same,EXCISE/ST/VAT : Where goods have been supplied to a project awarded under International Competitive Bidding (ICB), treating such supplies as deemed exports, refund of accumulated credit in terms of Rule 5 of CENVAT Credit Rules, 2004 is admissible only, if person claiming such refund is able to establish actual and physical export of goods cleared by him for export under bond or against a letter of undertaking. These conditions are substantial and in case of non-fulfilment of same,www.taxmann.com Latest Case LawsRead More