Input Tax Credit - Reversal / refunding of ITC - the Integrated ...

GST

February 5, 2024

Input Tax Credit - Reversal / refunding of ITC - the Integrated Goods and Service Tax (IGST) was not paid and ‘NIL’ return had been filed by the seller but the petitioners had availed of input tax credit - The High court noted discrepancies in the handling of the case by the authorities, particularly the failure to proceed against the seller before reversing the petitioners' input tax credit. HC emphasized the established legal principle that the buyer cannot be burdened with refunding the input tax credit without the authorities first taking action against the seller, except under exceptional circumstances.

View Source

← Previous Next →

Input Tax Credit - Reversal / refunding of ITC - the Integrated ...

GST

February 5, 2024

You may also like:

Refund of IGST paid on exports and Export under Bond scheme - refund of unutilised input tax credit (ITC) or IGST paid - For the option (b), the shipping bill filed by...

Recovery of refund of unutilised input tax credit or integrated tax paid on export of goods where export proceeds not realised - Rule 96B of the Central Goods and...

Exporters advised to file Table 6A and GSTR 3B for processing of IGST Refund and for Refund of the unutilized Input Tax Credit;

Rejection of Input tax credit claim - seller did not file the return - there being no mechanism under the JVAT Act, by which, the petitioner could compel the seller also...

Refund claim - Rule 5 of CCR, 2004 - refund cannot be denied merely on the ground that in the Service Tax Returns, the Cenvat credit column was shown as ‘Nil’.

CENVAT credit - input sold as such - there is no provision for reversal of credit of service tax on return of goods - AT

Input tax credit - the vendors of the Appellant had not filed their returns and/or had filed defective returns - ITC is not a matter of right but a concession.

Input tax credit - Whether ITC of IGST paid on bill to ship to’ model admissible to the applicant? - Held Yes

Integrated Goods and Services Tax Amendment Rules, 2017 - Apportionment of IGST with respect to advertisement services under section 12 (14) of the IGST Act, 2017.

Interest u/s 50(3) of the CGST Act, 2017, in cases of wrong availment of IGST credit and reversal thereof - There will not be any interest liability u/s 50(3) of CGST...

Quick Updates: