2023 (7) TMI 527

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....ITH MR YUVRAJ G THAKORE(7785) for the Petitioner(s) No. 1 ORDER ( PER : HONOURABLE MR. JUSTICE VIPUL M. PANCHOLI ) 1. Leave to amend para 2 of the petition is granted. 2. Heard learned Senior Advocate Mr. Tushar Hemani assisted by learned advocate Mr. Yuvraj G. Thakore for the petitioner. Learned Senior Advocate referred the averments made in the memo of the petition and also referred ....

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.... supplies. It is submitted that as the applicable rates of GST on inward supplies are higher than applicable rate of GST on outward supplies, there has been accumulation of Input Tax Credit (ITC) in the Electronic Credit Ledger of the company. It is the specific case of the petitioner that petitioner is eligible for refund of the excess credit that has accumulated on account of rate of tax on inpu....

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....nd. 5. At this stage, it is pointed out that thereafter on 13.07.2022, the respondent No.1 issued Notification No.9/2022 to enlarge the scope of Notification No.5/2017, whereby the specified HSNs in which the petitioner company's outward supplies are covered were added to the restricted category. It is pointed out that petitioner company was restricted to claim refund of the accumulated duty fr....

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....ion filed on or after 18.07.2022 and would not be applied to the refund application filed before 18.07.2022. Thus, it is submitted that the said Circular is against the provisions of law contained in Section 54 of the Act, whereby, the period of two years to file an application for refund is given. 7. Learned Senior Advocate thereafter submitted that no retrospective effect can be given by way ....