Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
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Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
The High Court held that the petitioner is entitled to refund of unutilized Input Tax Credit (ITC) on export of goods u/s 16(3) of the Integrated Goods and Services Tax Act, 2017. The petitioner furnished Bank Realization Certificates (BRCs) evidencing realization of sale proceeds, and the application for refund could not be rejected solely on the ground of non-production of BRCs within nine months. Regarding furnishing bank statements and ledger accounts of suppliers, the matter was remanded to the adjudicating authority to decide afresh whether the petitioner made payment to suppliers for inward supplies against which refund of accumulated ITC is claimed.
The High Court held that the petitioner is entitled to refund of unutilized Input Tax Credit (ITC) on export of goods u/s 16(3) of the Integrated Goods and Services Tax Act, 2017. The petitioner furnished Bank Realization Certificates (BRCs) evidencing realization of sale proceeds, and the application for refund could not be rejected solely on the ground of non-production of BRCs within nine months. Regarding furnishing bank statements and ledger accounts of suppliers, the matter was remanded to the adjudicating authority to decide afresh whether the petitioner made payment to suppliers for inward supplies against which refund of accumulated ITC is claimed.
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