Case Law Details
Jud Cements Ltd. & Anr. Vs Commissioner of Central Goods, Service Tax & Central Excise (Meghalaya High Court)
The Hon’ble Meghalaya High Court in JUD Cements Ltd. & Anr. v. the Commissioner, CGST, Shillong [WP (C) No. 344/2021 dated December 7, 2021] held that adjustment of Input Tax Credit (ITC) with tax dues to be paid off by the assessee in 24 equal or nearly equal monthly installments on account of the orders passed in the pending appeals and on account of ITC, if any, against the last installment. Further held that, the assessee will also be liable to pay interest on reducing balance basis on the tax due component of the amount less any adjustment on account of appellate orders or ITC.
Facts:
This petition has been filed by JUD Cements Ltd. (“the Petitioner”) for adjustment of ITC with tax dues to be paid by the Petitioner in installments amounting to INR 43,49,50,071/- as per the letter issued by the Revenue Department (“the Respondent”), that has been accepted by the Petitioner subject to the conclusion of the appeals, on account of the appeals pending for the period of 2017-18.
Held:
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