Court Rules No Negative Block on Future GST Credits; Petitioners to Receive Rs. 20 Lakh Refund u/r 86A.

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....Input tax credit - Seeking withdrawal of negative block of the electronic credit ledger of the Petitioners as visible from the extract of credit ledger - scope and applicability of Rule 86A - If credit balance is available, then the authority may, for reasons to be recorded in writing, not allow the debit of amount equivalent to such credit - there is no power of negative block for credit to be availed in future. The writ applicants are also entitled to the refund of ₹ 20 Lakh deposited by them to enable them to file their return. - HC....