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10. Therefore, at this juncture it would be pertinent to quote that relevant provisions of Chapter 8 which deals with deemed exports. I am consciously, at this point, referring to the unamended provisions of Chapter 8 of the FTP. Clause (b) of paragraph 8.2, inter alia, provides that goods supplied by the main contractor or a sub-contractor to an EOU will be regarded as deemed exports. Paragraph 8.3 which adverts to the benefits available against deemed exports, and is most crucial for the purposes of this case, is extracted in its entirety hereafter: -

"8.3 Benefits for Deemed Exports Deemed exports shall be eligible for any/ all of following benefits in respect of manufacture and supply of goods qualifying as deemed exports subject to terms and conditions as in HBP v1: -

(a) Advance Authorisation/ Advance Authorisation for annual requirement/ DFIA.

              (b)      Deemed Export Drawback.

              (c)      Exemption from terminal excise duty where

11.1 A declaration to that effect in the prescribed form is required to be filed by the applicant while seeking refund. In other words, the DTA supplier can seek refund only if the EOU has not availed of CENVAT credit or rebate on such goods.

12. As indicated above, paragraph 8.3 of the FTP 2009-2014 was amended vide notification No.4 dated 18.04.2013. For the sake of convenience, the amended para 8.3 of the FTP 2009-2014 is extracted hereafter: -

"8.3 Benefits for Deemed Exports Deemed exports shall be eligible for any / all of following benefits in respect of manufacture and supply of goods qualifying as deemed exports subject to terms and conditions as in HBP v1:-

15.1 To my mind, the argument that since excise duty was not paid via cash but was paid by utilizing the CENVAT credit route and hence, the petitioner would not be entitled to claim refund is unsustainable as there is no bar in law in paying duty by utilizing CENVAT credit (See paragraph 17 of Jayaswal Neco Ltd.).

15.2 For the very same reason, I am not impressed by the argument advanced on behalf of the respondents that the refund of TED would result in monetization of CENVAT credit. The object of the FTP is to provide impetus to export either by direct physical export or via the deemed export route. In case refund of TED is not given qua deemed export, it would result in export of duties, which, in the long run would be detrimental to the cause of the exporters and the Indian economy.