Refund of unutilised input tax credit clarification: amended formula and specified goods restriction apply prospectively to future filings. The amendment to sub rule (5) of rule 89 modifying the refund formula for unutilised input tax credit applies prospectively to refund applications filed on or after the amendment's effective date; earlier pending applications are to be processed under the prior formula. Separately, the notification restricting refunds for certain goods under specified chapters applies prospectively to refund applications filed on or after its effective date and does not impact applications filed before that date.
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Provisions expressly mentioned in the judgment/order text.
Refund of unutilised input tax credit clarification: amended formula and specified goods restriction apply prospectively to future filings.
The amendment to sub rule (5) of rule 89 modifying the refund formula for unutilised input tax credit applies prospectively to refund applications filed on or after the amendment's effective date; earlier pending applications are to be processed under the prior formula. Separately, the notification restricting refunds for certain goods under specified chapters applies prospectively to refund applications filed on or after its effective date and does not impact applications filed before that date.
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