Daewoo-TPL JV ., In re
Date: April 24, 2019
Subject Matter
Refund of unutilized ITC shall be allowed only in cases where credit availed on GOODS is higher that the tax rate on output supplies.
Summary
Q) The Applicant though eligible to claim for refund of inverted duty structure under Section 54(3) of the CGST Act, wishes to understand in-principle applicability of Notification 21 and 26 in as much whether the same allow for refund of ITC availed…
1. The questions / issues before Hon ‘ble Bench for determination are as follows: The Applicant though eligible to claim for refund of inverted duty structure under Section 54(3) of the CGST Act, wishes to understand the in-principle applicability of Notification 21 and 26 in as much whether the same allow for refund of ITC availed on input services (and remaining unutilized) in whole or par…