HC allows Refund of unutilized ITC accumulated on account of inverted tax structure on Bulk Gas

Shivaco Associates & Anr. Vs Joint Commissioner of State Tax, (Calcutta High Court) The petitioners claim refund in accordance with Section 54(3) of the CGST Act, 2017 on the ground that credit has accumulated on account of rate of tax on inputs being higher than the rate of tax on output supplies. Admittedly, the rate of tax on the input supply (LPG in bulk) is 18% and the rate of tax on output supply (LPG in small Containers for domestic consumers) is 5%. The claim of the petitioners for refund stood rejected on the ground that the input and output supplies are the same. The said restri...