Accumulated ITC refund under Inverted duty structure is available even if Input & Output are under Same Tax Rate: Delhi HC

Indian Oil Corporation Limited Vs Commissioner of Central Goods And Services Tax & Ors. (Delhi High Court) Introduction: The Delhi High Court recently addressed the denial of Input Tax Credit (ITC) refund to Indian Oil Corporation Limited (IOCL) in a notable case against the Commissioner of Central Goods and Services Tax. The dispute centered around the denial of claims based on the perceived similarity in the tax rates on input and output supplies. Background: IOCL, a public sector undertaking engaged in bottling and distributing Liquid Petroleum Gas (LPG), sought a refund for accumulated...