2025 (4) TMI 553

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....ral of India along with Ms. Natasha Pradhan, Advocate. ORDER (ORAL) BHASKAR RAJ PRADHAN, J. 1. M/s Torrent Pharmaceuticals Limited (Unit III) filed the present writ petition challenging order-in-original No. 02/BS/GTK/Torrent Pharma-III/GTK-DIV/2023-24 dated 01.11.2023 passed by the learned Assistant Commissioner of CGST, Gangtok Division directing recovery of refund amounting to Rs. 12,18,27,592/- along with interest @ 15% per annum in terms of paragraph 9 of the Budgetary Support Scheme read with affidavit-cum-indemnity bond dated 23.01.2018. 2. It was the case of the petitioner that they had entered into an agreement to acquire Unichem Laboratories business of India and Nepal, as a going concern on slump sale basis. On accoun....

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.... petitioner, directing the petitioner to reverse entire budgetary support amounting to Rs. 12,18,27,592/- along with interest @ 15% per annum in terms of paragraph 9.1 of the Budgetary Support Scheme and affidavit-cum-indemnity bond dated 23.01.2018 as affirmed by the petitioner. 8. The recovery notice was issued on the ground that since there is a change in ownership in respect of the concerned Unit, therefore, such Unit is not eligible under the Budgetary Support Scheme. Reliance was placed on the clarification issued by the Department for Promotion of Industry and Internal Trade (DPIIT) via Office Memorandum bearing F.No. 10/1/2021-GSTSS dated 31.03.2022 which referred to another Office Memorandum dated 20.10.2021. 9. After receipt....