No refund of unutilised input tax credit for specified goods where input tax rate exceeds output tax rate; refunds barred. The notification bars refund of unutilised input tax credit for specified goods where credit accumulated because input tax on inputs exceeds output tax on supplies (excluding nil rated or fully exempt supplies), identifies affected goods by Customs Tariff Schedule references, and applies the interpretative rules of that Schedule to this notification.
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 for specified goods where input tax rate exceeds output tax rate; refunds barred.
The notification bars refund of unutilised input tax credit for specified goods where credit accumulated because input tax on inputs exceeds output tax on supplies (excluding nil rated or fully exempt supplies), identifies affected goods by Customs Tariff Schedule references, and applies the interpretative rules of that Schedule to this notification.
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