Introduction Eporters who supply goods without payment of tax frequently find that the credit they have accumulated on inputs cannot be used against any output liability, and must instead be recovered through a refund claim. How the amount of that refund is computed is therefore a question of considerable commercial importance. In its recent order…
Introduction The Goods and Services Tax (GST) regime in India incorporates Section 171 of the Central Goods and Services Tax (CGST) Act, 2017, which mandates that any reduction in the tax rate or the benefit of Input Tax Credit must be passed on to the recipient by way of a commensurate reduction in prices. Organizations…
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