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2022 (11) TMI 1307 - HC - GSTRefund of input tax credit - accumulated credit due to inverted rate of GST - stipulation of lapsing of credit and cut-off date for refund in Notification No.20/2018-CT (Rate) dated 26.07.2018 - Section 54 of the CGST Act, 2017 - HELD THAT:- As rightly contended by the learned counsel for the petitioner, it is the specific contention of the petitioner that the input tax credit in relation to the goods that were lying in stock with the petitioner and which were not cleared as on 31.07.2018 would not lapse and that the petitioner would be entitled to refund of the same in view of the notifications and circulars of the respondents, in particular, the Notification dated 26.07.2018 and that the clarified Circular dated 24.08.2018 have not been considered or appreciated by the respondents in their proper perspective, which has resulted in erroneous conclusion in rejecting the refund claim of the petitioner. It is also significant to note that the petitioner has produced all relevant documents along with the claim for refund including documents produced in the present petition comprising of details of stock, Chartered Accountant Report, etc., for the purpose of establishing that the stock was available with the petitioner and the same was not cleared as on 31.07.2018. The impugned order passed by the adjudicating authority and the impugned order passed by the Appellate Authority without taking into account or properly or correctly considering or appreciating the material on record is set aside - petition allowed by way of remand.
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