Delhi High court announced the center need to verify and pay all INR 929 crore as a refund to Telecom Bharti Airtel within two weeks and refund amount will be verified once it was delivered to telecom.
This was a great degree due to non-operationalization of Forms GSTR-2A, GSTR-2 and GSTR-3 and the system related check which could have forewarned the petitioner about the mistake. Petitioner now desires to correct its returns. There is no enabling statutory procedure implemented by the Government as said the judgement said.
The petitioner alleged that there is an additional payment of taxes to the tune of Rs 929 crores and such additional credit is expected to adversely impact the tax collections for the current month.
As following the court order said that the refund of excess cash balance in terms of Section 496 read with Section 54 of the CGST ACT doesn’t effectively redress the petitioners grievance. The only remedy that can enable the petitioner enjoy the benefits of the seamless utilization of the input tax credit is by way of rectification of its annual return as GSTR-3B as added.