HC LETS AIR­TEL CLAIM ₹923 CR GST RE­LIEF

Hindustan Times (Jalandhar) - - BUSINESS -

NEW DELHI: The Delhi high court on Tues­day al­lowed Bharti Air­tel Ltd to claim goods and ser­vices tax (GST) re­fund of ₹923 crore by rec­ti­fy­ing its re­turns for the Septem­ber quar­ter of 2017. The de­ci­sion comes at a time when the tele­com sec­tor is fac­ing tur­bu­lent times. The com­pany had ex­cess in­put tax cred­its but could not use them to ad­just fi­nal tax li­a­bil­ity be­cause of the reg­u­la­tory and tech­nol­ogy-re­lated un­cer­tain­ties at the time of In­dia’s tran­si­tion to the new in­di­rect tax regime in 2017. Curbs on ad­just­ing past tax re­turn af­ter ex­cess in­put tax cred­its were no­ticed pre­vented Bharti Air­tel from claim­ing the ben­e­fit so far.

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