Sikkim HC: No Refund of Unused ITC on Business Closure u/s 54 CGST; Must Reverse u/s 29(5) - (09 Sep 2025)
GOODS AND SERVICES TAX
Sikkim HC ruled that unutilised Input Tax Credit (ITC) on business closure under Section 54 CGST Act cannot be refunded. Instead, it must be reversed U/S 29(5). The Court held that accumulated credit on closure must be paid via debit in the electronic ledger denying refunds u/s S. 49(6) & 54.
Tags : CGST DEBIT ELECTRONIC LEDGER
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