Inverted Duty Refund Upheld for Higher Taxed Packaging Inputs Under Section 54(3)(ii)
Inverted Duty Refund Upheld for Higher Taxed Packaging Inputs Under Section 54(3)(ii) Inverted Duty Refund Upheld for Higher Taxed Packaging Inputs Under Section 54(3)(ii) Issue Whether an assessee supplying packaged tea at 5% is entitled to an Input Tax Credit (ITC) refund under the inverted duty structure on account of higher tax rates (12%/18%) paid… Read More »