Refund of the unutilized ITC accumulated on account of inverted ...

Court Grants Refund for Unutilized ITC Due to Inverted Tax Structure, Overruling Restrictive Board Circular Interpretation.

April 2, 2022

Case Laws GST HC

Refund of the unutilized ITC accumulated on account of inverted tax structure - refund claimed on account of rate of tax on inputs being higher than the rate of tax on output supplies - By way of the circular, the Board is curtailing the said benefit and making refund permissible only if the input and output supplies are different. - The respondent authority ought not to reject the claim of the petitioners relying on the circular as the prayer made by the petitioners is permissible under the Act - it is held that the petitioners will be entitled to the refund as claimed - HC

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Refund of the unutilized ITC accumulated on account of inverted ...

Court Grants Refund for Unutilized ITC Due to Inverted Tax Structure, Overruling Restrictive Board Circular Interpretation.

April 2, 2022

Case Laws GST HC

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