Top Posts Tagged with #export turnover

Refund of accumulated ITC directed as amended Rule 89(4)(C) could not be retrospectively applied since the right to refund crystallises on the date of export and turnover must be computed as per rules prevailing during that period.

Case Summary: Refund of accumulated ITC allowed as retrospective application of amended Rule 89(4)(C) held impermissible since refund right crystallises on date of export Case Title: M/s Indian Herbal Store Pvt. Ltd. v. Union of India & Ors.Court: High Court of DelhiPetition Numbers: W.P.(C) 9908/2021 & W.P.(C) 9912/2021Category: Refund of Accumulated ITC – Zero-Rated SuppliesDate of Judgment:…

#Accumulated ITC #Delhi High Court #export turnover #GST Litigation #GST Refunds #Retrospective Amendment #Rule 89(4)(C)#zero-rated supplies

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Section 80HHC- SC Explains meaning of Turnover- Sale proceeds of scrap is not 'turnover'

Section 80HHC- SC Explains meaning of Turnover- Sale proceeds of scrap is not ‘turnover’

So far as the scrap is concerned, the sale proceeds from the scrap may either be shown separately in the Profit and Loss Account or may be deducted from the amount spent by the manufacturing unit on the raw material, which is steel in the case of the respondent-assessee, as the respondent-assessee is using stainless steel as raw material, from which utensils are manufactured. The raw material,…

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#export turnover #section 80HHC #supreme court judgements #turnover