No refund of unutilised input tax credit where input tax exceeds output tax for listed textile and rail goods. Notification declares that no refund of unutilised input tax credit shall be allowed where credit accumulation results from inputs being taxed at a higher rate than the output supplies (other than nil rated or fully exempt supplies), by specifying listed tariff items comprising various textile fabrics and railway-related goods; interpretation of tariff headings follows the First Schedule to the Customs Tariff Act, and the restriction takes effect from the notification's commencement date.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
No refund of unutilised input tax credit where input tax exceeds output tax for listed textile and rail goods.
Notification declares that no refund of unutilised input tax credit shall be allowed where credit accumulation results from inputs being taxed at a higher rate than the output supplies (other than nil rated or fully exempt supplies), by specifying listed tariff items comprising various textile fabrics and railway-related goods; interpretation of tariff headings follows the First Schedule to the Customs Tariff Act, and the restriction takes effect from the notification's commencement date.
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