No refund of unutilised input tax credit where input tax rate exceeds output rate for specified goods. The Government notifies specified goods for which no refund of unutilised input tax credit shall be allowed where credit has accumulated because the rate of tax on inputs exceeds the rate of tax on output supplies (other than nil rated or fully exempt supplies), listing textile fabrics, knitted fabrics and specified railway goods and parts; tariff interpretation follows the First Schedule to the Customs Tariff Act; the notification takes effect from 1 July 2017.
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 rate exceeds output rate for specified goods.
The Government notifies specified goods for which no refund of unutilised input tax credit shall be allowed where credit has accumulated because the rate of tax on inputs exceeds the rate of tax on output supplies (other than nil rated or fully exempt supplies), listing textile fabrics, knitted fabrics and specified railway goods and parts; tariff interpretation follows the First Schedule to the Customs Tariff Act; the notification takes effect from 1 July 2017.
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