https://www.taxtmi.com/forum/issue?id=114143 Notification No.20/2018 prevents refund of accumulated input tax credit on account of inverted duties for specified fabric items, resulting in a lapse of accumulated ITC for those fabric categories while excluding other ITC heads like zero rated export credits. The notification is limited to fabrics, interacts with existing reversal and refund mechanisms, and raises legal issues about executive power to extinguish credited GST, retrospective effect on credits treated as working capital, allocation difficulties across pooled ITC, and potential remedies including administrative representations and writ petitions. en-us Wed, 12 Sep 2018 17:01:44 +0530 Thu, 23 Jan 2025 15:55:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=114143 Notification No.20/2018 prevents refund of accumulated input tax credit on account of inverted duties for specified fabric items, resulting in a lapse of accumulated ITC for those fabric categories while excluding other ITC heads like zero rated export credits. The notification is limited to fabrics, interacts with existing reversal and refund mechanisms, and raises legal issues about executive power to extinguish credited GST, retrospective effect on credits treated as working capital, allocation difficulties across pooled ITC, and potential remedies including administrative representations and writ petitions. Discussion-Forum GST Wed, 12 Sep 2018 17:01:44 +0530 https://www.taxtmi.com/forum/issue?id=114143