Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
The High Court held that the petitioners were entitled to refund of unutilized input tax credit (ITC) on zero-rated supplies. The only ground for denying refund by the appellate authority was that no balance was available in the electronic credit ledger when the petitioners became entitled to the refund, as the carried forward CENVAT credit from the earlier regime was approved later. This would be contrary to Section 140(1) of the CGST Act. Consequently, the orders denying refund were quashed, and the appeal was allowed.
The High Court held that the petitioners were entitled to refund of unutilized input tax credit (ITC) on zero-rated supplies. The only ground for denying refund by the appellate authority was that no balance was available in the electronic credit ledger when the petitioners became entitled to the refund, as the carried forward CENVAT credit from the earlier regime was approved later. This would be contrary to Section 140(1) of the CGST Act. Consequently, the orders denying refund were quashed, and the appeal was allowed.
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