𝗖𝗘𝗦𝗧𝗔𝗧 𝗖𝗵𝗲𝗻𝗻𝗮𝗶 𝗥𝘂𝗹𝗶𝗻𝗴 𝗼𝗻 𝗥𝗲𝗳𝘂𝗻𝗱 𝗖𝗼𝗺𝗽𝘂𝘁𝗮𝘁𝗶𝗼𝗻 𝗳𝗼𝗿 𝗘𝘅𝗽𝗼𝗿𝘁𝗲𝗱 𝗦𝗲𝗿𝘃𝗶𝗰𝗲𝘀 📢 The Tribunal held: "For export service refunds, the relevant date for the one-year period is the date of foreign exchange realization, not the invoice date."

🔍 𝗙𝗮𝗰𝘁𝘀: 𝗖𝗼𝗺𝗽𝗮𝗻𝘆: M/s. Verizon Data Services India Pvt. Ltd. 𝗜𝘀𝘀𝘂𝗲: The Tribunal examined if refund computation should use the foreign exchange realization date and assessed the department's input credit application and service rejection.

𝗔𝗰𝘁𝗶𝘃𝗶𝘁𝘆: The respondent filed refund claims for input service tax credits related to the export of services under Rule 5 of the CENVAT Credit Rules, 2004. Partial refund was granted, with rejections prompting appeals from both the respondent and the department.

⚖️ 𝗝𝘂𝗱𝗴𝗲𝗺𝗲𝗻𝘁: The Tribunal ruled that refund eligibility for exported services is based on the foreign exchange realization date, not the invoice date. Domestic turnover should exclude Manpower Recruitment services. Refund calculations must consider total input credit without prior deductions, and quarterly claims remove the need for direct credit-export alignment. Remanded for recalculations.

𝗖𝗮𝘀𝗲 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻: 𝗧𝗶𝘁𝗹𝗲: Commissioner of GST and Central Excise vs. M/s. Verizon Data Services India Pvt. Ltd. 𝗦𝗲𝗿𝘃𝗶𝗰𝗲 𝗧𝗮𝘅 𝗔𝗽𝗽𝗲𝗮𝗹 𝗡𝗼. 41895 of 2014 𝗢𝗿𝗱𝗲𝗿 𝗗𝗮𝘁𝗲: 22 September 2023 📜 This ruling clarifies refund eligibility based on foreign exchange realization and proper input credit formula application.