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Interactive touchscreen panels with integrated computing functions fall under automatic data-processing machines rather than display monitors for cust...
Ex parte injunction service requirements were substantially met, while civil recovery and SFIO investigation into provident fund defalcation continued...
Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
The HC held that the refund of input tax credit is limited to the tax rate applicable on the principal input, specifically crude sunflower oil. Relying on precedent, the Court affirmed that Circular No. 135/05/2020 applies only where input tax credit accumulation arises from a reduction in tax rates. The Court further concluded that the petitioner is not entitled to a refund under Clause (ii) of Sub-section (3) of Section 54 when the input and output supplies are identical. This interpretation aligns with the legal principles established in a prior HC ruling involving a similar issue. Consequently, the petition was allowed, confirming that refund claims must adhere strictly to the statutory and circular provisions governing input tax credit refunds.
The HC held that the refund of input tax credit is limited to the tax rate applicable on the principal input, specifically crude sunflower oil. Relying on precedent, the Court affirmed that Circular No. 135/05/2020 applies only where input tax credit accumulation arises from a reduction in tax rates. The Court further concluded that the petitioner is not entitled to a refund under Clause (ii) of Sub-section (3) of Section 54 when the input and output supplies are identical. This interpretation aligns with the legal principles established in a prior HC ruling involving a similar issue. Consequently, the petition was allowed, confirming that refund claims must adhere strictly to the statutory and circular provisions governing input tax credit refunds.
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