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Anti-profiteering obligations survive business demerger, complaint withdrawal, and customized supply arrangements where rate-reduction benefits are no...
Accumulated input tax credit on higher-taxed packaging materials, containers and printed flexible packaging used for packaged tea qualifies for inverted duty structure refund where those inputs bear a higher tax rate than the output supply. Equal tax treatment of bulk tea and packaged tea does not negate the refund where the packaging inputs themselves create the rate inversion. A departmental circular addressing reductions in tax rates on the same goods over time does not apply to this circumstance and cannot restrict a refund otherwise available under the Act. The sanctioned refund is consequently payable.
Accumulated input tax credit on higher-taxed packaging materials, containers and printed flexible packaging used for packaged tea qualifies for inverted duty structure refund where those inputs bear a higher tax rate than the output supply. Equal tax treatment of bulk tea and packaged tea does not negate the refund where the packaging inputs themselves create the rate inversion. A departmental circular addressing reductions in tax rates on the same goods over time does not apply to this circumstance and cannot restrict a refund otherwise available under the Act. The sanctioned refund is consequently payable.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
