https://www.taxtmi.com/caselaws?id=754556 For refund of unutilised input tax credit on exports, the relevant value is the FOB value declared in the GST invoice, not the net amount payable after deducting free-supplied gold. Where a discrepancy exists, the refund mechanism under section 54 of the CGST Act requires comparison of the invoice value with the corresponding shipping bill value, and the lower figure governs only if the shipping bill value is lower. The authority had wrongly treated the net payable amount as the invoice value, so the refund order was set aside and the matter remanded for reconsideration in accordance with law. en-us Fri, 21 Jun 2024 00:00:00 +0530 Tue, 25 Jun 2024 14:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754556 For refund of unutilised input tax credit on exports, the relevant value is the FOB value declared in the GST invoice, not the net amount payable after deducting free-supplied gold. Where a discrepancy exists, the refund mechanism under section 54 of the CGST Act requires comparison of the invoice value with the corresponding shipping bill value, and the lower figure governs only if the shipping bill value is lower. The authority had wrongly treated the net payable amount as the invoice value, so the refund order was set aside and the matter remanded for reconsideration in accordance with law. Case-Laws GST Fri, 21 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754556