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TMI Blog2019 (4) TMI 305X X X X Extracts X X X X X X X X Extracts X X X X ..... CGST ACT/TNGST Act 2017 within 30 days from the date on which the ruling sought to be appealed against is communicated. At the outset, we would like to make it clear that the provisions of both the Central Goods and Service Tax Act and the Tamil Nadu Goods and Service Tax Act are the same except for certain provisions. Therefore, unless a mention is specifically made to such dissimilar provisions, a reference to the Central Goods and Service Tax Act would also mean a reference to the same provisions under the Tamil Nadu Goods and Service Tax Act. M/s. Texmo Industries, P.O. Box 5303, G.N. Mills Post, Mettupalayam Road, Coimbatore- (hereinafter called Texmo or Applicant) is a partnership firm engaged in the manufacture of power dri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tput Viz., power driven pumps for which the tax rates are at 12%. Due, to the above inverted duty structure, wherein the tax paid on inputs is higher than the tax paid on the output, there is an accumulation of excess credit. Prior to the introduction of Goods and services Tax, under the erstwhile VAT regime too, the tax structure was inverted resulting in an accumulation of credit. They have submitted that the input tax credit (ITC) availed by them can be used to set off the liability under GST, however, due to the inverted duty structure the ITC continues to accumulate perennially. Section 54(3)(ii) of the SGST and CGST enables a registered person to claim refund of any unutilized input tax credit at the end of any tax period, where the c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oices vide their letter dated 01.10.2018 and requested to be heard again. Accordingly, the applicant was extended an opportunity to be heard on 20.11.2018. The applicant appeared and submitted a flowchart of the manufacturing process. They further undertook to submit specific invoices along with all relevant documents to seek clarification on all conditions under Section 16 and Section 17 within 2 weeks. The case was posted for final hearing on 25.02.2019. 4. The Applicant vide their letter dated 15.02.2019 has requested withdrawal of the Advance Ruling Application filed before the authority. 5. In view of the foregoing, we rule as under: RULING The application filed by the Applicant for advance ruling is dismissed as withd ..... X X X X Extracts X X X X X X X X Extracts X X X X
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