https://www.taxtmi.com/caselaws?id=799712 Net ITC for refunds of unutilised input tax credit on zero-rated supplies is confined to credit availed during the relevant refund period. A reversal of compensation-cess credit attributable to earlier tax periods, including residual credit remaining after an earlier refund, does not form part of relevant-period Net ITC and should not reduce it. Administrative guidance on reporting reversals cannot require deduction of every reversal recorded during the refund period irrespective of the period to which the underlying credit relates, as it cannot expand or override the statutory refund formula. The accumulated compensation-cess credit refund is consequently computed without deducting such earlier-period reversals. en-us Wed, 23 Sep 2026 00:00:00 +0530 Fri, 25 Sep 2026 08:16:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799712 Net ITC for refunds of unutilised input tax credit on zero-rated supplies is confined to credit availed during the relevant refund period. A reversal of compensation-cess credit attributable to earlier tax periods, including residual credit remaining after an earlier refund, does not form part of relevant-period Net ITC and should not reduce it. Administrative guidance on reporting reversals cannot require deduction of every reversal recorded during the refund period irrespective of the period to which the underlying credit relates, as it cannot expand or override the statutory refund formula. The accumulated compensation-cess credit refund is consequently computed without deducting such earlier-period reversals. Case-Laws GST Wed, 23 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799712