Input tax credit on compensation cess: refundable to extent attributable to exports made without payment of tax under refund rules. Coal used for captive power generation in manufacturing qualifies as input and tax paid, including compensation cess, is eligible for input tax credit. If goods produced are exported without payment of tax, the unutilized input tax credit attributable to the compensation cess relatable to those zero-rated supplies may be claimed as a refund, subject to the statutory refund provisions and prescribed procedural rules for determining refund amounts.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Input tax credit on compensation cess: refundable to extent attributable to exports made without payment of tax under refund rules.
Coal used for captive power generation in manufacturing qualifies as input and tax paid, including compensation cess, is eligible for input tax credit. If goods produced are exported without payment of tax, the unutilized input tax credit attributable to the compensation cess relatable to those zero-rated supplies may be claimed as a refund, subject to the statutory refund provisions and prescribed procedural rules for determining refund amounts.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
