Rejection of Claim under J&K Budgetary Support Scheme – HC directs reconsideration

Coromandel International Ltd Vs Union of India and others (Jammu and Kashmir High Court) It is submitted that petitioner, applied for reimbursement by way of Budgetary support for the period, January 2020 to March 2020 and April 2020 to June 2020 before Central Tax Authorities. The Adjudicating Authority illegally and arbitrarily rejected the reimbursement under Budgetary support on the ground that the petitioner had closing balance of Input Tax Credit lying unutilized at the end of quarter and had reduced the budgetary support arbitrarily to the extent of the closing balance of Input Tax Cred...