Strict construction of customs exemptions denied concession for brake components, while limitation restricted differential duty to timely Bills of Ent...
Way Leave Permissions cannot be retrospectively revived through insolvency plans, and affected infrastructure holders require safety review and hearin...
Inter-terminal container movement requires customs escort, permit reconciliation, and indemnity, while delayed DPD cargo may move to designated CFS ya...
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Net ITC for refunds of unutilised compensation cess on zero-rated supplies comprises credit actually availed and attributable to the relevant refund period. A reversal recorded in that period reduces Net ITC only where the reversed credit was availed during the same period. Residual credit from earlier periods, not included in the claimed Net ITC for the refund period, cannot reduce the eligible refund. Departmental clarification must operate consistently with the statutory refund formula and cannot require deduction of every reversal irrespective of when the underlying credit arose. The refund sanction was therefore upheld and the Revenue challenge rejected.
Net ITC for refunds of unutilised compensation cess on zero-rated supplies comprises credit actually availed and attributable to the relevant refund period. A reversal recorded in that period reduces Net ITC only where the reversed credit was availed during the same period. Residual credit from earlier periods, not included in the claimed Net ITC for the refund period, cannot reduce the eligible refund. Departmental clarification must operate consistently with the statutory refund formula and cannot require deduction of every reversal irrespective of when the underlying credit arose. The refund sanction was therefore upheld and the Revenue challenge rejected.
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