Excisable Goods Exported under claim of rebate - Is conversion permissible to Export without payment of duty under Bond/LUT?

By Vijay Kumar

A manufacturer exported excisable goods under claim of rebate. But as the month progressed, he realised that he had no funds/credit to pay duty on home clearances. He wants to convert the export made under rebate to export without payment of duty, so that he can save the duty payable on goods exported and use it for home clearances. Is it permissible?

DDT wants netizens to respond.