https://www.taxtmi.com/caselaws?id=427475 The Telangana HC allowed a petition regarding refund of accumulated input tax credit under inverted tax structure provisions of Section 54 CGST Act, 2017. The court held that a clarificatory circular dated 06.07.2022 substituting paragraph 3.2 of the 31.03.2020 circular would have retrospective effect from the original circular's date. The refund would be permitted where input tax credit accumulation results from output supply tax rates being lower than input tax rates for same goods under concessional notifications. The matter was remanded to the respondent for reconsideration based on the clarified circular provisions. en-us Mon, 05 Sep 2022 00:00:00 +0530 Mon, 07 Apr 2025 10:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427475 The Telangana HC allowed a petition regarding refund of accumulated input tax credit under inverted tax structure provisions of Section 54 CGST Act, 2017. The court held that a clarificatory circular dated 06.07.2022 substituting paragraph 3.2 of the 31.03.2020 circular would have retrospective effect from the original circular's date. The refund would be permitted where input tax credit accumulation results from output supply tax rates being lower than input tax rates for same goods under concessional notifications. The matter was remanded to the respondent for reconsideration based on the clarified circular provisions. Case-Laws GST Mon, 05 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427475