High Court allows refund of ITC reversed when Tax is paid by the Supplier

High Court allows refund of ITC reversed when Tax is paid by the Supplier https://www.taxtmi.com/article/detailed?id=12489 Registered persons who reversed Input Tax Credit may submit refund applications where suppliers later pay tax and file returns; adjudication must follow the statutory refund procedure and account for the notification excluding a pandemic-related period from limitation. The ITC-reversal provision applies prospectively and past-period reversals cannot be mechanically enforced; tax demands should be directed to the person liable, avoiding double taxation when supplier subsequently pays. en-us Wed, 03 Apr 2024 08:06:00 +0530 Wed, 03 Apr 2024 08:06:00 +0530 TaxTMI RSS Generator High Court allows refund of ITC reversed when Tax is paid by the Supplier https://www.taxtmi.com/article/detailed?id=12489 Registered persons who reversed Input Tax Credit may submit refund applications where suppliers later pay tax and file returns; adjudication must follow the statutory refund procedure and account for the notification excluding a pandemic-related period from limitation. The ITC-reversal provision applies prospectively and past-period reversals cannot be mechanically enforced; tax demands should be directed to the person liable, avoiding double taxation when supplier subsequently pays. Articles Goods and Services Tax - GST Wed, 03 Apr 2024 08:06:00 +0530 https://www.taxtmi.com/article/detailed?id=12489