Refund of unutilised input tax credit barred for specified goods where input tax rate exceeds output tax rate. Notification specifies goods, by Customs Tariff references, for which no refund of unutilised input tax credit shall be allowed where credit accumulated because the tax rate on inputs is higher than the tax rate on output supplies (excluding nil-rated or fully exempt supplies). It applies the interpretive rules of the First Schedule to the Customs Tariff Act, 1975 to construe tariff references and is issued under the proviso to sub-section (3) of section 54 of the State GST Act on GST Council recommendations.
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.
Refund of unutilised input tax credit barred for specified goods where input tax rate exceeds output tax rate.
Notification specifies goods, by Customs Tariff references, for which no refund of unutilised input tax credit shall be allowed where credit accumulated because the tax rate on inputs is higher than the tax rate on output supplies (excluding nil-rated or fully exempt supplies). It applies the interpretive rules of the First Schedule to the Customs Tariff Act, 1975 to construe tariff references and is issued under the proviso to sub-section (3) of section 54 of the State GST Act on GST Council recommendations.
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