Audio to Receiver from a TV with S/PDIF Coaxial Out

[Sylar]

I'm currently exploring the idea of getting this 60" TV for the hall (Panasonic 60C300DX). I have a Panny 50" plasma in my room.
Before I get suggestions for alternatives, note that I live in India and don't get all models/brands/offers that are available in US .

I will be connecting everything using HDMI. My older plasma has ARC, so HDMI worked out simple and easy.
However this LED does not have HDMI ARC. Neither does it have RCA Audio Out (I found it strange that it has neither). What it has for audio is, a single S/PDIF Coaxial Out.

Coming to my question.
1. Can I use the Digital Coaxial Out in the TV to get audio content back to receiver? (Sources to be connected to receiver, and receiver to TV using HDMI).
2. Will the audio be the same audio as in original source? So the receiver can decode it as it would.
3. If I use this, will audio mute @ the TV?
4. I also intend to use Chromecast (or something better). Should this be connected to receiver as a source or directly to TV?

Note:
(a). Connections could be like this Sources -> Receiver -> TV (-> Coax from TV to Receiver?)
(b). Receiver is Marantz 7005. Which has 2 Digital CoAx Inputs.

 

[Latent]

if all your source devices are HDMI connected to the receiver then there is no need or ARC or digital spdif out from tv. The audio from the source device gets terminated inside the Receiver and the video (with audio removed normally) is passed to the TV.

However sometimes you might decide to connect something to the TV and bypass the receiver and then you would need ARC or spdif connected to get the audio to the receiver. Also if you use the TV decoder inside the TV or any smart TV functions on the TV the audio will also need to be passed via ARC or spdif.

To setup the SPDIF for your tv you connect it to a digital coax input on the receiver and then have to work out which input you need to switch it to on the receiver to listen to this audio. for ARC you need to assign the ARC audio to one of the inputs in the receiver settings as well as turning it on at the TV end. Also the TV needs to be set to internal speakers off mode so it only send audio out and doesn't let you control the volume from the TV itself.