https://www.taxtmi.com/article/detailed?id=9420 The statute provides refund of unutilized input tax credit under an inverted duty structure for all ITC categories including inputs, input services and capital goods; an implementing rule limits refund to inputs only. A High Court read down that rule to permit refund of input services ITC as being inconsistent with the statute, and the court's reasoning may be extended to capital goods and to analogous refunds for zero-rated supplies under LUT. Taxpayers are advised to include all ITC when claiming refunds and to pursue amendments or appeals where administrative practice excludes service or capital goods credits. en-us Tue, 18 Aug 2020 06:41:04 +0530 Tue, 18 Aug 2020 06:41:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9420 The statute provides refund of unutilized input tax credit under an inverted duty structure for all ITC categories including inputs, input services and capital goods; an implementing rule limits refund to inputs only. A High Court read down that rule to permit refund of input services ITC as being inconsistent with the statute, and the court's reasoning may be extended to capital goods and to analogous refunds for zero-rated supplies under LUT. Taxpayers are advised to include all ITC when claiming refunds and to pursue amendments or appeals where administrative practice excludes service or capital goods credits. Articles Goods and Services Tax - GST Tue, 18 Aug 2020 06:41:04 +0530 https://www.taxtmi.com/article/detailed?id=9420