https://www.taxtmi.com/caselaws?id=797242 Rule 43's 2022 amendment excluding duty credit scrip values from exempt supplies is presented as prospective from 5 July 2022, not applicable to transactions during 2017-20. The amendment is characterised as creating a new benefit in calculating proportionate input tax credit reversal rather than clarifying an existing ambiguity; input tax credit is treated as concessional and not retrospectively vested. The monetary-limit circular is described as binding departmental officers but not the Tribunal, with aggregate tax involved in a composite order and recurring interpretive issues requiring consideration. Section 74(1) requires proof of fraud, wilful misstatement, or deliberate suppression intended to evade tax; absent such material, liability should be determined under Section 75(2) using the Section 73(1) mechanism. en-us Wed, 05 Aug 2026 00:00:00 +0530 Wed, 19 Aug 2026 08:20:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797242 Rule 43's 2022 amendment excluding duty credit scrip values from exempt supplies is presented as prospective from 5 July 2022, not applicable to transactions during 2017-20. The amendment is characterised as creating a new benefit in calculating proportionate input tax credit reversal rather than clarifying an existing ambiguity; input tax credit is treated as concessional and not retrospectively vested. The monetary-limit circular is described as binding departmental officers but not the Tribunal, with aggregate tax involved in a composite order and recurring interpretive issues requiring consideration. Section 74(1) requires proof of fraud, wilful misstatement, or deliberate suppression intended to evade tax; absent such material, liability should be determined under Section 75(2) using the Section 73(1) mechanism. Case-Laws GST Wed, 05 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797242