https://www.taxtmi.com/caselaws?id=756542 The demand component linked to delayed availment of Input Tax Credit under the GST regime was found to require reconsideration because the GST Council had examined the issue and the Finance (No. 2) Bill, 2024 proposed a retrospective relaxation for specified financial years. The court noted that the bill also stated that tax already paid or credit already reversed would not be refunded merely because of the proposed amendment. Accordingly, the ITC-related portion was set aside for fresh decision by the assessing authority, while the remaining demand was left open for statutory appeal and not examined on merits in the writ proceedings. en-us Mon, 29 Jul 2024 00:00:00 +0530 Thu, 08 May 2025 12:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756542 The demand component linked to delayed availment of Input Tax Credit under the GST regime was found to require reconsideration because the GST Council had examined the issue and the Finance (No. 2) Bill, 2024 proposed a retrospective relaxation for specified financial years. The court noted that the bill also stated that tax already paid or credit already reversed would not be refunded merely because of the proposed amendment. Accordingly, the ITC-related portion was set aside for fresh decision by the assessing authority, while the remaining demand was left open for statutory appeal and not examined on merits in the writ proceedings. Case-Laws GST Mon, 29 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756542