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Accumulated ITC lying unutilized in respect of notified goods, on account of inverted duty structure, shall not lapse

August 2, 2019[2019] 108 15 (Gujarat)

GST : There being no express provision in section 54(3) empowering Central Government to provide for lapsing of unutilised ITC, petitioners have a vested right to unutilised ITC accumulated on account of rate of tax on inputs being higher than rate of tax on output supplies (inverted rate structure)

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