Refund of accumulated ITC allowed where concessional notification causes output tax rate to be lower than input tax rate; exclusions apply. Refund of accumulated ITC under the inverted duty framework is admissible where accumulation arises because the rate of tax on outward supplies is lower than the rate on inputs at the same point in time due to supply under a concessional notification, except where output supply is nil rated or fully exempt or where the Government has notified exclusion; admissibility remains subject to fulfillment of other statutory conditions.
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.
Refund of accumulated ITC allowed where concessional notification causes output tax rate to be lower than input tax rate; exclusions apply.
Refund of accumulated ITC under the inverted duty framework is admissible where accumulation arises because the rate of tax on outward supplies is lower than the rate on inputs at the same point in time due to supply under a concessional notification, except where output supply is nil rated or fully exempt or where the Government has notified exclusion; admissibility remains subject to fulfillment of other statutory conditions.
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