No refund of unutilised input tax credit where input rates exceed output rates for specified textile and railway goods. The notification disallows refund of unutilised input tax credit where credit accumulated because input tax rates exceed output tax rates (other than for nil rated or fully exempt supplies), and lists specified tariff items in textiles and railway rolling stock, parts and signalling equipment to which this refund restriction applies, applying interpretation rules of the Customs Tariff First Schedule.
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 rates exceed output rates for specified textile and railway goods.
The notification disallows refund of unutilised input tax credit where credit accumulated because input tax rates exceed output tax rates (other than for nil rated or fully exempt supplies), and lists specified tariff items in textiles and railway rolling stock, parts and signalling equipment to which this refund restriction applies, applying interpretation rules of the Customs Tariff First Schedule.
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