9911796707
TMI Blog2024 (6) TMI 1163X X X X Extracts X X X X X X X X Extracts X X X X ..... epancy in the value in the corresponding shipping bill, the lower of the two values should be sanctioned as refund. The impugned order dated 25th August 2020 is set aside - matter is remanded to respondent no. 1 to process the refund application in accordance with law. Petition disposed off by way of remand. - K. R. SHRIRAM AND JITENDRA JAIN, JJ. For the Petitioner : Mr. Parth Badheka a/w. Ms. Nikita Badheka and Ms. Lata Nagal. For the Respondents : Mr. Jitendra Mishra a/w. Mr. Mataprasad Sharma and Ms. Sangeeta Yadav. P.C. 1. The issue which arises in this petition is what is the value of the goods that has to be considered while working out the refund of Integrated Goods and Services Tax (IGST) to be sanctioned. 2. Petitioner is a jewel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ared and the lower of the two values should be considered for refund. These instructions have been given by the Central Board of Excise and Customs, GST Policy Wing, since it was brought to the notice of the Board that in certain cases where the refund of unutilised Input Tax Credit on account of export of goods is claimed, the value declared in the Tax Invoice is different from the export value declared prefund in the corresponding shipping bill under the Customs Act and the applications do not get pressed. To put an end to the impasse, the instructions as contained in paragraph 9.1 has been issued. 4. Having considered the pleadings, the only issue that requires to be decided is, what is the FOB value declared in the GST Invoice. Mr. Badh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ere is a discrepancy in the value in the corresponding shipping bill, the lower of the two values should be sanctioned as refund. 6. By way of illustration, let us take an example of a person going to a jewellery shop and ordering jewellery worth Rs. 5,00,000/-. While placing the order, the customer takes few broken rings and chains and gives it to the jeweller and the jeweller uses those gold pieces while making the jewellery worth Rs. 5,00,000/-. In the invoice that the jeweller would raise for Rs. 5,00,000/-, he will certainly show the advance by way of broken gold pieces received by him and the value thereof will certainly be given. If the value of the broken jewellery is Rs. 3,00,000/-, the jeweller will say net amount payable Rs. 2,00 ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
