https://www.taxtmi.com/article/detailed?id=15066 The article examines whether unutilised input tax credit on business cessation is refundable under Section 54 of the CGST Act, explaining that Section 54(3) enumerates refunds for zero rated supplies and inverted duty structures but is silent on closure. It contrasts a Single Judge's equitable expansion permitting closure refunds with a Division Bench's restrictive view that refunds are statutory and limited to explicit statutory categories, and discusses practical, comparative and constitutional implications including Article 265, business planning, and potential legislative reform. en-us Wed, 10 Sep 2025 08:41:30 +0530 Wed, 10 Sep 2025 08:41:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=15066 The article examines whether unutilised input tax credit on business cessation is refundable under Section 54 of the CGST Act, explaining that Section 54(3) enumerates refunds for zero rated supplies and inverted duty structures but is silent on closure. It contrasts a Single Judge's equitable expansion permitting closure refunds with a Division Bench's restrictive view that refunds are statutory and limited to explicit statutory categories, and discusses practical, comparative and constitutional implications including Article 265, business planning, and potential legislative reform. Articles Goods and Services Tax - GST Wed, 10 Sep 2025 08:41:30 +0530 https://www.taxtmi.com/article/detailed?id=15066