Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
The HC allowed the petition and quashed the impugned appellate order, holding the petitioner-a SEZ unit-entitled to refund of unutilized IGST credit in the Electronic Credit Ledger under s.54 of the CGST Act. The Court affirmed that the input service distributor concept permits recognition of input tax credit on services received for zero-rated supplies, and applied controlling HC precedent which remains operative and unstayed. Consequently, respondents were directed to process the petitioner's refund claim forthwith. The writ succeeds, the appellate order dated 18.02.2025 is set aside, and relief is granted to effect reimbursement of the unutilized IGST credit.
The HC allowed the petition and quashed the impugned appellate order, holding the petitioner-a SEZ unit-entitled to refund of unutilized IGST credit in the Electronic Credit Ledger under s.54 of the CGST Act. The Court affirmed that the input service distributor concept permits recognition of input tax credit on services received for zero-rated supplies, and applied controlling HC precedent which remains operative and unstayed. Consequently, respondents were directed to process the petitioner's refund claim forthwith. The writ succeeds, the appellate order dated 18.02.2025 is set aside, and relief is granted to effect reimbursement of the unutilized IGST credit.
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