Madras HC in Platinum Holdings – Paving clarity on the contentious issue of SEZ Refunds.
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- Last Updated on 30 November, 2021
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S. Rahul Jain – [2021] 132 taxmann.com 276 (Article)
Section 16 of the IGST Act 2017 provides that any supply of goods or services to SEZ developers or SEZ units would qualify as a zero-rated supply. Therefore, no tax may be levied on supply of goods or services to SEZ units. Though Section 16 granted Zero Rating benefit on supply to SEZs, in certain cases, the supplier to the SEZ units opted to not claim such benefit and levy GST on the transaction.
In such a case, the issue which has plagued the industry is whether the SEZ units can themselves claim refund of taxes paid such domestic procurement. Many SEZ units, especially engaged in manufacture of goods are facing the challenge of accumulation of ITC. In this article, the author has discussed this issue in light of decision of the Madras High Court in case of Platinum Holdings (P.) Ltd. v Addl. Commissioner of GST & Central Excise.
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I really like your writing style, great information, thankyou for posting : D.