Revisional power in block assessment upheld, undisclosed search income sustained, freight suppression addition restored, accrued lorry hire liability ...
Reassessment and fee-for-technical-services classification: reopening upheld, but certain reimbursements and mobilization charges fell outside treaty ...
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The HC held that Notification No. 14/2022-Central Tax amending Rule 89(5) of the CGST Rules had to be applied even to refund applications filed before 5 July 2022, following the final view in Ascent Meditech Ltd. The appellate authority's failure to consider that notification and the related clarification rendered its rejection of the refund claims unsustainable. On a composite reading of Section 54(3) and the Rules, the petitioner was entitled to refund of accumulated input tax credit arising from the inverted duty structure, and the original and appellate rejection orders were quashed.
The HC held that Notification No. 14/2022-Central Tax amending Rule 89(5) of the CGST Rules had to be applied even to refund applications filed before 5 July 2022, following the final view in Ascent Meditech Ltd. The appellate authority's failure to consider that notification and the related clarification rendered its rejection of the refund claims unsustainable. On a composite reading of Section 54(3) and the Rules, the petitioner was entitled to refund of accumulated input tax credit arising from the inverted duty structure, and the original and appellate rejection orders were quashed.
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