Court Rules Electronic Cash Ledger Refunds Must Offset Future Tax Liabilities Amid Fraud Probe Under CGST Act Sections 73 & 74.

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....Refund of amounts lying in the petitioner's electronic cash ledger - investigation is pending against large scale fraudulent availing of credit on the strength of fake and fictitious invoices - the amount lying in the Electronic Liability Register of the petitioner can be refunded only the manner in the law. It cannot be ordered to be refunded. It can however be utilised by the petitioner for discharging tax liability against future supplies to be made/effected by the petitioner provided of course prior to such supply, the tax to be paid by the petitioner is adjudicated and determined and appropriated in the proposed proceedings under Section 73/74 of the CGST Act, 2017, in which case, Section 79 of the CGST Act, 2017 can be pressed into service. - HC....