https://www.taxtmi.com/caselaws?id=764952 The HC ruled on a GST circular denying refund of accumulated input tax credit due to inverted duty structure. The petitioner had excess input tax credit that was required to lapse after July 2018, which they reversed in March 2019 without utilizing it post-cutoff date. Relying on SC precedent establishing that validly availed input tax credit is indefeasible unless improperly utilized, the HC held that imposing interest under Section 50(3) was unjustified since the petitioner never actually utilized the accumulated credit after the cutoff date. The petition was allowed. en-us Thu, 24 Oct 2024 00:00:00 +0530 Tue, 03 Jun 2025 16:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764952 The HC ruled on a GST circular denying refund of accumulated input tax credit due to inverted duty structure. The petitioner had excess input tax credit that was required to lapse after July 2018, which they reversed in March 2019 without utilizing it post-cutoff date. Relying on SC precedent establishing that validly availed input tax credit is indefeasible unless improperly utilized, the HC held that imposing interest under Section 50(3) was unjustified since the petitioner never actually utilized the accumulated credit after the cutoff date. The petition was allowed. Case-Laws GST Thu, 24 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764952