Bombay High Court Allows Refund of Accumulated Input Tax Credit Under Inverted Duty Structure in GST — Rejection by Authorities Set Aside. Held that refund of unutilized ITC is admissible under Section 54(3)(ii) of the CGST Act, 2017 even when output supply is partially exempt, and that the formula under Rule 89(5) of the CGST Rules, 2017 must be applied correctly....
The petitioner, CHEC-TPL Line 4 Joint Venture, a joint venture between TATA Projects Limited and another entity, was engaged in the construction of a tunnel for the Mumbai Metro Rail Corporation Limit...
