FIRCs need not match exports transaction-wise for ITC claims: Delhi HC

Transformative Learning Solutions Pvt Ltd Vs Commissioner Central Goods And Service Tax Delhi East & Anr. (Delhi High Court) The Delhi High Court set aside an order dated January 31, 2025, passed by the Additional Commissioner of Central Goods & Service Tax, which had confirmed a massive demand of ₹20,14,98,627 (approximately ₹20.15 crore) along with equivalent interest and penalty, against Transformative Learning Solutions Private Limited. The company, engaged in exporting Ayurvedic cosmetic goods, had its Input Tax Credit (ITC) claim rejected primarily on reconciliation grounds....