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...
The petitioner had unutilized Input Tax Credit (ITC) of Rs.2,42,15,906/- under the VAT Act for the period from 1st April 2017 to 30th June 2017, which was carried forward to the GST regime by filing Form GST TRAN 1. Subsequently, the petitioner reversed the ITC in the Electronic Credit Ledger by filing Form DRC-03. The High Court, relying on its previous decision in R. N. Laboratories Pvt. Ltd., directed the respondent authorities to process the petitioner's application for refund of Rs.2,42,15,906/- along with statutory interest payable u/s 38 of the VAT Act, as the petitioner had not availed any credit amount carried forward to GST. The authorities were directed to complete the exercise within 12 weeks from the date of receipt of the order.
The petitioner had unutilized Input Tax Credit (ITC) of Rs.2,42,15,906/- under the VAT Act for the period from 1st April 2017 to 30th June 2017, which was carried forward to the GST regime by filing Form GST TRAN 1. Subsequently, the petitioner reversed the ITC in the Electronic Credit Ledger by filing Form DRC-03. The High Court, relying on its previous decision in R. N. Laboratories Pvt. Ltd., directed the respondent authorities to process the petitioner's application for refund of Rs.2,42,15,906/- along with statutory interest payable u/s 38 of the VAT Act, as the petitioner had not availed any credit amount carried forward to GST. The authorities were directed to complete the exercise within 12 weeks from the date of receipt of the order.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
