Exemption of IGST & GST Compensation Cess on import of inputs against Advance Authorization – SC reversed Guj HC Decision & allowed Revenue Appeal

Union of India Vs Cosmo Films Limited (Supreme Court of India) 1. These appeals are directed against a judgment and order of the Gujarat High Court,1 wherein mandatory fulfilment of a ‘pre-import condition’2 incorporated in the Foreign Trade Policy of 2015-2020 (“FTP”) and Handbook of Procedures 2015-2020 (“HBP”) by Notification No. 33 /2015-20 and Notification No. 79 / 2017-Customs, both dated 13.10.2017, was set aside. According to the High Court, such fulfilment in order to claim exemption of Integrated Goods and Services Tax (“IGST”)3 and GST compensation cess4 on input imp...