Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
The HC held that unutilised input tax credit of GST Compensation Cess paid on coal, used in manufacture of goods exported on payment of IGST as zero-rated supplies, is refundable. It reiterated that when zero-rated supplies are made with payment of IGST, and no Compensation Cess is leviable on the finished goods, the assessee cannot utilise the input tax credit of such Cess. Consequently, the bar under the proviso to Section 11(2) of the relevant enactment is inapplicable. The HC quashed and set aside the impugned rejection orders and directed the revenue authorities to process the refund applications of the petitioner-assessee and sanction the claimed refund of unutilised Compensation Cess credit. Petition allowed.
The HC held that unutilised input tax credit of GST Compensation Cess paid on coal, used in manufacture of goods exported on payment of IGST as zero-rated supplies, is refundable. It reiterated that when zero-rated supplies are made with payment of IGST, and no Compensation Cess is leviable on the finished goods, the assessee cannot utilise the input tax credit of such Cess. Consequently, the bar under the proviso to Section 11(2) of the relevant enactment is inapplicable. The HC quashed and set aside the impugned rejection orders and directed the revenue authorities to process the refund applications of the petitioner-assessee and sanction the claimed refund of unutilised Compensation Cess credit. Petition allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4794
Join Channel
TaxTMI 
