More

    Bharti Airtel’s ₹9.23 billion GST refund

    Must Read

    Contesting candidates of Karjan seat instructed to submit accounts of election expenses

    Instructed to submit accounts in the office of the Returning Officer on 27th October

    Covid 19 cases reached 14591 in Vadodara after 96 new cases on Monday

    Total 116 discharged from hospital taking the total to 12849 Covid 19 cases in...

    Lab technicians of SSG hospital demand permanent status

    Staged demonstration and gave memorandum to dean and superintendent Lab technicians working in the...

    Government moves Supreme Court against the Delhi court order

    In a latest development the government has moved the Supreme Court raising issue of Bharti Airtel’s ₹9.23 billion GST refund. Earlier Delhi High Court order and allowing Bharti Airtel Ltd to claim ₹9.23 billion in tax refunds by rectifying its goods and services tax (GST) returns filed earlier.

    A two-judge bench of the high court had allowed the telecom major to seek GST refunds for the period of July-September 2017. The high court had directed the government to verify the excess GST claim within two weeks of the order and refund the amount to Bharti Airtel.

    The authorities claimed that Bharti Airtel had under-reported input tax credit from the said period, but the telco said to be paid excess tax of ₹9.23 billion on inputs based on estimates since the GSTR-2A form was not operational during the error period.

    As per details, the company had excess input tax credit at its disposal but could not adjust it against the final tax liability. It was due to regulatory and technology-related uncertainties at the time of India’s transition to the new indirect tax regime in July 2017. When the company noticed availability of excess input tax credit, restrictions prevented the telco from claiming that benefit.

    The high court order permitted the company to rectify Form GSTR-3B for the error period.

    The apex court registry showed the case titled ‘Union of India through its secretary versus Bharti Airtel Ltd’ in the ‘defect list’, which means that a petition filed has errors and need to be rectified before listed in the court.

    The petition had been filed against, Bharti Airtel, the GST Council through its secretary, commissioner through the finance ministry’s department of revenue commissioner and the Central Board of Indirect Taxes and Customs (CBIC) via its chairman.

    Advocate B Krishna Prasad filed the government’s plea and a caveat has been filed by respondent advocate Rahul Jain. The caveat will prevent the court from taking any action without informing the respondents in this case.

    Bharti Airtel stuck in a legal battle of adjusted gross revenue (AGR) with the department of telecommunications (DoT) and now the GST refund case could further blow on its finances.

    While the telecom department had estimated Airtel’s dues around ₹37,000 crore, the telco said it owed ₹13,000 crore to the government after self assessment. Along with this amount, Airtel deposited an additional ₹5,000 crore as an ad-hoc payment to cover differences, if any, arising from the reconciliation exercise with the DoT.

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Latest News

    Order of Honourable Chief Justice – Experimental Live streaming of first court proceedings

    Public will be allowed to view court proceedings through video conferencing In a order...

    Covid 19 cases reached 14591 in Vadodara after 96 new cases on Monday

    Total 116 discharged from hospital taking the total to 12849 Covid 19 cases in Vadodara reached 14591 mark after...

    Lab technicians of SSG hospital demand permanent status

    Staged demonstration and gave memorandum to dean and superintendent Lab technicians working in the city's Sayaji Hospital for more...

    Godhra girl launches signature drive against rising rape cases in Vadodara

    Saddened by the rising rape cases in the country, a 12 year old girl from Godhra launched a signature campaign on Monday...

    Order of Honourable Chief Justice – Experimental Live streaming of first court proceedings

    Public will be allowed to view court proceedings through video conferencing In a order issued by Chief Justice of...

    More Articles Like This

    - Advertisement -