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The Petitioner was registered as an ISD under the pre-GST regime and transited CENVAT Credit lying in its Electronic Credit Ledger into GST regime. The Revenue initiated recovery proceedings in respect to such credit. The HC took note of the judgements of Bombay HC, wherein the ISD CENVAT credit has been allowed to be transitioned in absence of a definite procedure. Accordingly, HC restrained the Revenue from proceeding with any recovery.
Hero Motocorp Limited [2022-VIL-719-DEL]
The Bombay HC in RE: Unichem Laboratories Limited [Writ Petition No. 109 of 2020], while relying to SC’s judgement in RE: Filco Trade [2022-TIOL-57-SC-GST], directed the Petitioner to file or revise GST TRAN-1 through their respective units registered under CGST Act. It was further held that the same will be basis the manual ISD invoices issued by the ISD of petitioner subject to aggregate credit. The HC further directed the CBIC to issue a clarification, after due deliberation, in relation to the distribution / reporting of ISD credit. However, the CBIC is yet to issue any such clarification.
The information provided in this update is intended for informational purposes only and does not constitute legal opinion or advice. Readers are requested to seek formal legal advice prior to acting upon any of the information provided herein. This update is not intended to address the circumstances of any particular individual or corporate body. There can be no assurance that the judicial/ quasi judicial authorities may not take a position contrary to the views mentioned hereinrra quis.
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