Tax alert: Amended formula for refunds under inverted duty structure also applicable on refunds prior to amendment

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Tax alert: Amended formula for refunds under inverted duty structure also applicable on refunds prior to amendment

 

22 January 2025

Gujarat High Court holds that amendment brought in Rule 89(5) of the CGST Rules, towards inverted duty structure, is curative and clarificatory in nature and the same would be applicable retrospectively, for all refund applications filed within the prescribed period of two years irrespective of the date of filing of the application.

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