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2024 (1) TMI 623 - MADRAS HIGH COURTRefund of unutilised Input Tax Credit (ITC) - Barred by time limitation or not - HELD THAT:- The N/N. 13/2022-C.T. dated 05.07.2022 clearly specifies that the period running from 01.03.2020 to 28.02.2022 is required to be excluded for computation of the period for limitation for filing a refund application under Section 54 of the CGST Act. The relevant date is the date of receipt of payment in convertible foreign exchange, as per Explanation (2) to sub-section (14) of Section 54. Even as regards FIRCs issued in April 2018, if the benefit of the above notification is extended to the petitioner, the refund application dated 04.09.2020 would be within the two year period, which is to be computed from the relevant date, as per sub-section (1) of Section 54 of the CGST Act. Apart from concluding that the claim is barred by limitation, no other reason has been mentioned in the appellate order for rejecting the refund claim of Rs. 7,34,732/-. For reasons set out, the said conclusion in the appellate order is unsustainable. Hence, the impugned order is quashed and, as a corollary, the 1st respondent is directed to refund the sum of Rs. 7,34,732/- to the petitioner within a period of two months from the date of receipt of a copy of this order. The writ petition is allowed.
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