https://www.taxtmi.com/highlights?id=59683 Refund of unutilised ITC on input services - Vires of Rule 89(5) vis-à-vis Section 54(3) of the CGST Act - While we are alive to the anomalies of the formula, an anomaly per se cannot result in the invalidation of a fiscal rule which has been framed in exercise of the power of delegated legislation. - We are affirmatively of the view that this Court should not in the exercise of the power of judicial review allow itself to become a one-time arbiter of any and every anomaly of a fiscal regime despite its meeting the jurisdictional framework for the validity of the legislation, including delegated legislation. - SC en-us Tue, 14 Sep 2021 15:02:42 +0530 Tue, 14 Sep 2021 15:02:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=59683 Refund of unutilised ITC on input services - Vires of Rule 89(5) vis-à-vis Section 54(3) of the CGST Act - While we are alive to the anomalies of the formula, an anomaly per se cannot result in the invalidation of a fiscal rule which has been framed in exercise of the power of delegated legislation. - We are affirmatively of the view that this Court should not in the exercise of the power of judicial review allow itself to become a one-time arbiter of any and every anomaly of a fiscal regime despite its meeting the jurisdictional framework for the validity of the legislation, including delegated legislation. - SC Highlights GST Tue, 14 Sep 2021 15:02:42 +0530 https://www.taxtmi.com/highlights?id=59683