Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
Overlapping GST proceedings require Central and State authorities to designate one competent authority for coordinated adjudication of the same matter...
Composite healthcare supplies retain exemption when patient care is the contract's essential character, despite payment through an implementing agency...
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The Punjab and Haryana High Court addressed the issue of refund of excess Input Tax Credit (ITC) and entitlement to interest on delayed refund. The petitioner's application for refund of excess ITC from 2010-11 to 2013-14 was rejected, directing them to apply from the relevant year. The court held that interest on the refund accrued from the date of the first application (27.11.2020) and should have been paid after sixty days. The subsequent assessment proceedings did not affect the petitioner's right to interest on the accrued amount. The court allowed the petition, directing payment of interest on the refunded amount.
The Punjab and Haryana High Court addressed the issue of refund of excess Input Tax Credit (ITC) and entitlement to interest on delayed refund. The petitioner's application for refund of excess ITC from 2010-11 to 2013-14 was rejected, directing them to apply from the relevant year. The court held that interest on the refund accrued from the date of the first application (27.11.2020) and should have been paid after sixty days. The subsequent assessment proceedings did not affect the petitioner's right to interest on the accrued amount. The court allowed the petition, directing payment of interest on the refunded amount.
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