https://www.taxtmi.com/caselaws?id=799868 Monetary refunds of unutilised input tax credit exceeding entitlement under the refund formula may be treated as erroneous refunds recoverable under Section 73. Recovery jurisdiction does not require prior reversal of the original refund sanction through departmental appeal or revision, although it does not permit disregard of a subsisting appellate determination. Sections 73 and 50 impose compensatory interest on erroneous refunds, irrespective of fraud, taxpayer fault, or departmental error in granting the refund. The substituted refund formula applied from its stated effective date, while the later interest-computation rule neither created nor removed the underlying statutory interest liability. en-us Thu, 24 Sep 2026 00:00:00 +0530 Mon, 28 Sep 2026 08:12:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799868 Monetary refunds of unutilised input tax credit exceeding entitlement under the refund formula may be treated as erroneous refunds recoverable under Section 73. Recovery jurisdiction does not require prior reversal of the original refund sanction through departmental appeal or revision, although it does not permit disregard of a subsisting appellate determination. Sections 73 and 50 impose compensatory interest on erroneous refunds, irrespective of fraud, taxpayer fault, or departmental error in granting the refund. The substituted refund formula applied from its stated effective date, while the later interest-computation rule neither created nor removed the underlying statutory interest liability. Case-Laws GST Thu, 24 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799868