Tax deduction compliance and payee income recognition govern consultancy disallowance, while no exempt income prevents related expenditure disallowanc...
Derivative abetment liability fails when correctly declared imported components establish no underlying improper importation by the principal importer...
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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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