https://www.taxtmi.com/caselaws?id=765794 Clause (5) of Section 16 of the CGST Act, inserted retrospectively from 01.07.2017 by the Finance (No. 2) Act, 2024, removed the basis for denying Input Tax Credit on delayed returns for 2017-18. On that footing, the restriction earlier relied upon by the respondents could not stand, and the amounts recovered as interest and penalty were directed to be refunded. The refund was ordered with interest at 6% per annum from the date of collection until repayment. en-us Sat, 07 Dec 2024 00:00:00 +0530 Mon, 21 Jul 2025 14:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765794 Clause (5) of Section 16 of the CGST Act, inserted retrospectively from 01.07.2017 by the Finance (No. 2) Act, 2024, removed the basis for denying Input Tax Credit on delayed returns for 2017-18. On that footing, the restriction earlier relied upon by the respondents could not stand, and the amounts recovered as interest and penalty were directed to be refunded. The refund was ordered with interest at 6% per annum from the date of collection until repayment. Case-Laws GST Sat, 07 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765794