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Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
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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