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Gujarat HC strikes down GST refund restriction circular
market hours1 source ↓written by the desknot a recommendation
- to be processed
- 18 Jul 2022
The Gujarat High Court ruled that a circular limiting refund claims on accumulated Input Tax Credit due to inverted duty structure is ultra vires. This decision allows refund applications for periods before 18 Jul 2022 to be processed, potentially benefiting companies like Kush Proteins engaged in edible oil manufacturing. 💼
This ruling may enhance liquidity for affected firms, impacting their operational cash flow positively.
Not investment advice. For informational purposes only.