No Refund for Unutilized ITC Except in Specific Circumstances u/s 54 of CGST: Tripura HC

The Tripura High Court clarified that refund of unutilized Input Tax Credit (ITC) is not permissible under Section 54 of the CGST Act except under specific circumstances. The case involved a situation where the taxpayer sought a refund of unutilized ITC, but the court found that the conditions outlined in the statute did not apply. The judgment pointed out the limitations on claiming such refunds, highlighting that ITC refunds are only available under particular conditions such as export of goods or services. The decision reinforced the importance of adhering to the legal framework for ITC refunds.