Reversals Pertaining To Prior Periods Cannot Reduce Net ITC For Export Refund Computation
Reversals Pertaining To Prior Periods Cannot Reduce Net ITC For Export Refund Computation Issue Whether an ITC reversal pertaining to prior tax periods can be deducted to reduce “Net ITC” under Rule 89(4)(B) while computing refund for zero-rated exports made under LUT for the relevant period. Facts Business Operations & Accumulation: The respondent, a manufacturer-exporter… Read More »