Form 26AS evidence requires successor-entity accounting verification after business transfer, while invoice-supported related-party advertising expend...
Money-laundering judgment timing requires awaiting the scheduled-offence decision despite continuation of the underlying trial where outcomes directly...
Accredited investor eligibility expands through securities-market exposure, while alternative investment fund disputes require prescribed resolution a...
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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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