Refund of unutilised input tax credit: amended formula and chapter-specific refund restriction apply only after their effective dates. An amendment to sub-rule (5) of rule 89 modifying the formula for refund of unutilised input tax credit on account of inverted duty structure is prospective and applies to refund applications filed on or after its effective date, with earlier applications governed by the pre-amendment formula. Separately, a notification specifying certain goods for which no refund shall be allowed where credit accumulated due to higher input tax rates applies prospectively to refund applications filed on or after its effective date and not to earlier applications.
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 unutilised input tax credit: amended formula and chapter-specific refund restriction apply only after their effective dates.
An amendment to sub-rule (5) of rule 89 modifying the formula for refund of unutilised input tax credit on account of inverted duty structure is prospective and applies to refund applications filed on or after its effective date, with earlier applications governed by the pre-amendment formula. Separately, a notification specifying certain goods for which no refund shall be allowed where credit accumulated due to higher input tax rates applies prospectively to refund applications filed on or after its effective date and not to earlier applications.
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