TNVAT : Madras HC directs evaluation of Refund Claims Based on ITC Utilization & Zero Rated Export Documentation

Flow Link Systems Pvt. Ltd. Vs Assistant Commissioner (ST)(FAC) (Madras High Court)

Detailed Analysis: Flow Link Systems Pvt. Ltd., a manufacturer and exporter of steel casting and industrial valves, sought a refund of unutilised Input Tax Credit (ITC) under the TNVAT Act. The petitioner claimed ITC on capital goods for its zero-rated exports. However, the refund was rejected based on Circular No.22 of 2011, which was later superseded by Circular No.12 of 2018, allowing such refunds.

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