Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
The petitioner challenged the refund sanctioning orders u/s 54 of the CGST Act on the ground that the unutilized Input Tax Credit (ITC), including transitional credit from CENVAT, was ignored. The High Court held that the provisions of Section 54 would apply, and the authorities could not deprive the petitioner of the CENVAT credit available on 01.07.2017 merely because it was reflected in the Electronic Credit Ledger in August 2017 after processing Form GST TRAN-1. Considering the decision in M/s. Torrent Pharmaceuticals case, the High Court quashed the impugned orders and the show-cause notice, allowing the refund of unutilized ITC after considering the CENVAT credit.
The petitioner challenged the refund sanctioning orders u/s 54 of the CGST Act on the ground that the unutilized Input Tax Credit (ITC), including transitional credit from CENVAT, was ignored. The High Court held that the provisions of Section 54 would apply, and the authorities could not deprive the petitioner of the CENVAT credit available on 01.07.2017 merely because it was reflected in the Electronic Credit Ledger in August 2017 after processing Form GST TRAN-1. Considering the decision in M/s. Torrent Pharmaceuticals case, the High Court quashed the impugned orders and the show-cause notice, allowing the refund of unutilized ITC after considering the CENVAT credit.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
