https://www.taxtmi.com/caselaws?id=775756 The SC upheld the validity of Rule 89(5) of the CGST/GST Rules regarding the refund of unutilized input tax credit, rejecting the challenge to the formula prescribed. It affirmed the HC's view that the formula is neither ambiguous nor unworkable and aligns with legislative intent to grant limited refunds on accumulated ITC, despite potential practical inequities. The SC declined to interfere and dismissed the Special Leave Petition. en-us Fri, 18 Jul 2025 00:00:00 +0530 Wed, 30 Jul 2025 08:21:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775756 The SC upheld the validity of Rule 89(5) of the CGST/GST Rules regarding the refund of unutilized input tax credit, rejecting the challenge to the formula prescribed. It affirmed the HC's view that the formula is neither ambiguous nor unworkable and aligns with legislative intent to grant limited refunds on accumulated ITC, despite potential practical inequities. The SC declined to interfere and dismissed the Special Leave Petition. Case-Laws GST Fri, 18 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775756