Court :
Meghalaya High Court
Brief :
The Hon'ble Meghalaya High Court in JUD Cements Ltd. & Anr. v. the Commissioner, CGST, Shillong [WP (C) No. 344/2021 dated December 7, 2021] held that adjustment of Input Tax Credit ("ITC") with tax dues to be paid off by the assessee in 24 equal or nearly equal monthly installments on account of the orders passed in the pending appeals and on account of ITC, if any, against the last installment. Further held that, the assessee will also be liable to pay interest on reducing balance basis on the tax due component of the amount less any adjustment on account of appellate orders or ITC.
Citation :
WP (C) No. 344/2021 dated December 7, 2021
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